Raymond James Financial Issues Positive Forecast for Diversified Royalty (TSE:DIV) Stock Price

Diversified Royalty (TSE:DIV) had its price target boosted by equities research analysts at Raymond James Financial from C$4.70 to C$5.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective suggests a potential upside of 8.70% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Desjardins raised their target price on shares of Diversified Royalty from C$4.75 to C$5.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, ATB Cormark Capital Markets dropped their price objective on Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$5.35.

Diversified Royalty Price Performance

TSE DIV remained flat at C$4.60 on Thursday. 247,761 shares of the company’s stock traded hands, compared to its average volume of 413,778. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74. The business has a 50 day simple moving average of C$4.65 and a two-hundred day simple moving average of C$4.25. Diversified Royalty has a 1 year low of C$3.20 and a 1 year high of C$4.98. The stock has a market capitalization of C$860.42 million, a P/E ratio of 23.00 and a beta of 1.11.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings results on Thursday, May 14th. The company reported C$0.04 EPS for the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. The firm had revenue of C$18.80 million during the quarter. Analysts predict that Diversified Royalty will post 0.2 EPS for the current fiscal year.

Insider Activity at Diversified Royalty

In other Diversified Royalty news, Director Johnny Ciampi sold 147,004 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$4.77, for a total transaction of C$701,209.08. Following the transaction, the director owned 12,767 shares in the company, valued at C$60,898.59. This trade represents a 92.01% decrease in their position. Also, insider Greg Gutmanis sold 30,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of C$4.85, for a total value of C$145,500.00. Following the transaction, the insider owned 204,185 shares in the company, valued at C$990,297.25. The trade was a 12.81% decrease in their position. Over the last three months, insiders have sold 330,000 shares of company stock valued at $1,576,500. 0.52% of the stock is currently owned by insiders.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.