Cormark Analysts Decrease Earnings Estimates for Freehold Royalties Ltd (TSE:FRU)

Freehold Royalties Ltd (TSE:FRU) – Analysts at Cormark reduced their FY2019 earnings per share (EPS) estimates for Freehold Royalties in a report released on Thursday, November 14th. Cormark analyst A. Arif now forecasts that the company will earn $0.02 per share for the year, down from their prior forecast of $0.03. Cormark also issued estimates for Freehold Royalties’ FY2021 earnings at $0.06 EPS.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada cut their target price on shares of Freehold Royalties from C$12.00 to C$11.00 and set an “outperform” rating for the company in a report on Thursday. National Bank Financial cut their target price on shares of Freehold Royalties from C$10.50 to C$9.50 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. CIBC cut their target price on shares of Freehold Royalties from C$9.50 to C$9.00 in a report on Tuesday, October 15th. TD Securities lifted their target price on shares of Freehold Royalties from C$14.00 to C$14.50 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Eight Capital lifted their target price on shares of Freehold Royalties from C$11.50 to C$11.65 in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Freehold Royalties currently has an average rating of “Hold” and a consensus target price of C$10.64.

TSE:FRU opened at C$6.83 on Friday. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $794.04 million and a price-to-earnings ratio of 1,366.00. The company has a 50 day moving average price of C$6.90 and a 200-day moving average price of C$7.80. Freehold Royalties has a 1-year low of C$6.34 and a 1-year high of C$9.88.

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were issued a $0.0525 dividend. This represents a $0.63 annualized dividend and a yield of 9.22%. The ex-dividend date of this dividend was Wednesday, October 30th. Freehold Royalties’s payout ratio is presently 12,600.00%.

Freehold Royalties Company Profile

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada. It holds approximately 6.2 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 43,000 wells and receives royalty from 300 industry operators.

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Earnings History and Estimates for Freehold Royalties (TSE:FRU)

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