Scotiabank Raises Freehold Royalties (TSE:FRU) Price Target to C$13.50

Freehold Royalties (TSE:FRU) had its price target hoisted by stock analysts at Scotiabank from C$11.00 to C$13.50 in a report issued on Thursday, BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 16.28% from the company’s current price.

FRU has been the topic of several other reports. National Bank Financial reiterated an “outperform” rating and issued a C$11.50 price objective on shares of Freehold Royalties in a report on Thursday, September 23rd. Royal Bank of Canada lifted their price objective on Freehold Royalties from C$12.50 to C$13.50 and gave the stock an “outperform” rating in a report on Thursday, September 23rd. Raymond James boosted their target price on Freehold Royalties to C$12.00 and gave the stock an “outperform” rating in a report on Thursday, September 23rd. Ci Capital boosted their target price on Freehold Royalties to C$12.50 in a report on Thursday, August 12th. Finally, Acumen Capital boosted their target price on Freehold Royalties to C$12.75 in a report on Thursday, August 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$12.56.

Shares of TSE:FRU traded up C$0.16 during trading on Thursday, reaching C$11.61. 282,676 shares of the company’s stock traded hands, compared to its average volume of 518,899. Freehold Royalties has a fifty-two week low of C$3.56 and a fifty-two week high of C$11.70. The company has a quick ratio of 3.15, a current ratio of 4.55 and a debt-to-equity ratio of 11.19. The firm has a market cap of C$1.75 billion and a PE ratio of 78.98. The company has a 50-day simple moving average of C$9.72 and a 200-day simple moving average of C$9.10.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Tuesday, August 10th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.09 by C$0.01. The firm had revenue of C$44.93 million during the quarter, compared to analyst estimates of C$41.00 million. On average, equities research analysts forecast that Freehold Royalties will post 0.65 EPS for the current year.

About Freehold Royalties

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada and the United States. The company holds approximately 6.7 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 11,000 producing wells and receives royalty from 300 industry operators.

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Analyst Recommendations for Freehold Royalties (TSE:FRU)

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