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

Freehold Royalties Ltd. (TSE:FRU)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.46 and traded as high as C$14.94. Freehold Royalties shares last traded at C$14.82, with a volume of 344,794 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. National Bankshares boosted their price target on Freehold Royalties from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. CIBC lifted their price objective on shares of Freehold Royalties from C$14.50 to C$15.25 in a research note on Friday, November 14th. Finally, Canaccord Genuity Group upped their target price on shares of Freehold Royalties from C$16.00 to C$17.00 in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Freehold Royalties presently has an average rating of “Moderate Buy” and a consensus price target of C$15.05.

Freehold Royalties Price Performance

The business has a fifty day moving average of C$14.21 and a 200 day moving average of C$13.46. 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 stock has a market cap of C$2.43 billion, a PE ratio of 18.53, a P/E/G ratio of -0.92 and a beta of 0.53.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Thursday, November 13th. The company reported C$0.21 earnings per share (EPS) for the quarter. The company had revenue of C$74.36 million for the quarter. Freehold Royalties had a return on equity of 14.43% and a net margin of 42.42%. Sell-side analysts anticipate that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current year.

Freehold Royalties Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 17th were paid a dividend of $0.09 per share. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, October 31st. Freehold Royalties’s dividend 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.