Raymond James Issues Pessimistic Forecast for Freehold Royalties (TSE:FRU) Stock Price

Freehold Royalties (TSE:FRU) had its price objective reduced by Raymond James from C$16.00 to C$14.00 in a report issued on Wednesday morning,BayStreet.CA reports.

Several other equities analysts also recently weighed in on the company. Desjardins raised their price target on Freehold Royalties from C$16.50 to C$17.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. National Bankshares boosted their price objective on shares of Freehold Royalties from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Scotiabank upgraded shares of Freehold Royalties to a “hold” rating in a research report on Wednesday, March 19th. BMO Capital Markets upgraded Freehold Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, CIBC set a C$16.00 price objective on Freehold Royalties and gave the company a “neutral” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$16.57.

Freehold Royalties Price Performance

FRU traded down C$0.94 during midday trading on Wednesday, reaching C$10.87. 401,557 shares of the company’s stock were exchanged, compared to its average volume of 723,463. Freehold Royalties has a 1-year low of C$10.53 and a 1-year high of C$14.77. The stock has a market capitalization of C$1.63 billion, a PE ratio of 12.32, a P/E/G ratio of -0.92 and a beta of 1.93. The company has a debt-to-equity ratio of 22.91, a current ratio of 1.65 and a quick ratio of 1.50. The business’s 50-day moving average price is C$12.47 and its 200 day moving average price is C$13.18.

Freehold Royalties Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.94%. Freehold Royalties’s dividend payout ratio (DPR) is 122.40%.

Freehold Royalties Company Profile

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota.