Freehold Royalties (TSE:FRU) Releases Quarterly Earnings Results

Freehold Royalties (TSE:FRU) released its quarterly earnings data on Thursday. The company reported C$0.21 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$74.36 million during the quarter. Freehold Royalties had a return on equity of 14.43% and a net margin of 42.42%.

Freehold Royalties Stock Up 3.0%

Shares of Freehold Royalties stock opened at C$14.69 on Friday. Freehold Royalties has a 1 year low of C$10.53 and a 1 year high of C$14.71. The company has a market cap of C$2.41 billion, a P/E ratio of 19.33, a P/E/G ratio of -0.92 and a beta of 0.53. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91. The stock has a 50-day moving average price of C$13.86 and a 200 day moving average price of C$13.17.

Freehold Royalties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 17th will be given a dividend of $0.09 per share. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Friday, October 31st. Freehold Royalties’s payout ratio is presently 142.11%.

Analyst Ratings Changes

FRU has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on Freehold Royalties from C$16.00 to C$17.00 in a report on Friday. CIBC boosted their price objective on Freehold Royalties from C$14.50 to C$15.25 in a report on Friday. Finally, National Bankshares upped their price objective on shares of Freehold Royalties from C$14.50 to C$15.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$15.05.

About Freehold Royalties

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.