Desjardins Forecasts Strong Price Appreciation for Diversified Royalty (TSE:DIV) Stock

Diversified Royalty (TSE:DIV) had its price objective raised by equities researchers at Desjardins from C$4.00 to C$4.50 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 10.84% from the company’s previous close.

Separately, Canadian Imperial Bank of Commerce upped their price target on shares of Diversified Royalty from C$3.50 to C$4.00 in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$4.03.

Diversified Royalty Trading Up 0.7%

Shares of Diversified Royalty stock opened at C$4.06 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70. The stock has a market capitalization of C$693.22 million, a P/E ratio of 23.88 and a beta of 0.99. The company has a 50-day simple moving average of C$3.83 and a 200 day simple moving average of C$3.64. Diversified Royalty has a 12-month low of C$2.57 and a 12-month high of C$4.09.

Diversified Royalty (TSE:DIV) last issued its earnings results on Thursday, November 13th. The company reported C$0.05 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 49.25% and a return on equity of 11.46%. The company had revenue of C$19.59 million for the quarter. Research analysts expect that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

About Diversified Royalty

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.