Freehold Royalties (TSE:FRU) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Freehold Royalties Ltd. (TSE:FRU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.99 and traded as high as C$17.95. Freehold Royalties shares last traded at C$17.69, with a volume of 1,070,186 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FRU shares. Raymond James Financial upgraded Freehold Royalties from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$14.50 to C$17.50 in a report on Tuesday, December 9th. Canadian Imperial Bank of Commerce lifted their price target on shares of Freehold Royalties from C$14.50 to C$15.25 in a research report on Friday, November 14th. National Bank Financial downgraded shares of Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 price objective for the company. in a research note on Friday, January 9th. Canaccord Genuity Group raised their target price on shares of Freehold Royalties from C$16.00 to C$17.00 in a research note on Friday, November 14th. Finally, Scotiabank lifted their target price on shares of Freehold Royalties from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$15.79.

Freehold Royalties Stock Up 0.8%

The stock has a market capitalization of C$2.95 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of -0.92 and a beta of 0.65. The firm has a 50-day moving average of C$16.52 and a 200 day moving average of C$15.04. The company has a current ratio of 1.63, a quick ratio of 1.50 and a debt-to-equity ratio of 27.54.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Wednesday, March 11th. The company reported C$0.31 earnings per share (EPS) for the quarter. Freehold Royalties had a net margin of 40.19% and a return on equity of 12.09%. The company had revenue of C$69.76 million for the quarter. On average, sell-side analysts anticipate that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current year.

Freehold Royalties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a yield of 6.0%. Freehold Royalties’s payout ratio is 135.00%.

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. The majority of its revenue is generated from Canada Segment.