Cormark Equities Analysts Raise Earnings Estimates for Freehold Royalties Ltd (FRU)

Freehold Royalties Ltd (TSE:FRU) – Cormark lifted their Q2 2019 earnings per share (EPS) estimates for Freehold Royalties in a research note issued to investors on Wednesday, May 8th. Cormark analyst A. Arif now forecasts that the company will post earnings of $0.04 per share for the quarter, up from their previous estimate of $0.03. Cormark also issued estimates for Freehold Royalties’ Q3 2019 earnings at $0.03 EPS.

Freehold Royalties (TSE:FRU) last posted its earnings results on Thursday, March 7th. The company reported C($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.10 by C($0.14). The firm had revenue of C$24.90 million for the quarter, compared to analyst estimates of C$46.20 million.

Several other brokerages also recently issued reports on FRU. Eight Capital reduced their price target on shares of Freehold Royalties from C$12.00 to C$11.50 in a research report on Wednesday. Canaccord Genuity upped their price target on shares of Freehold Royalties from C$11.50 to C$12.00 in a research report on Tuesday, April 9th. National Bank Financial upped their price target on shares of Freehold Royalties from C$10.00 to C$11.00 in a research report on Monday, April 8th. TD Securities reduced their price target on shares of Freehold Royalties from C$15.00 to C$14.50 in a research report on Friday, March 8th. Finally, CIBC reduced their price target on shares of Freehold Royalties from C$12.00 to C$11.00 in a research report on Friday, February 1st.

FRU opened at C$8.83 on Friday. The company has a debt-to-equity ratio of 11.62, a quick ratio of 1.05 and a current ratio of 1.05. Freehold Royalties has a twelve month low of C$7.68 and a twelve month high of C$14.01. The stock has a market capitalization of $1.04 billion and a PE ratio of 74.20.

The business also recently declared a monthly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were given a dividend of $0.0525 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.63 annualized dividend and a yield of 7.13%. Freehold Royalties’s dividend payout ratio (DPR) is 439.08%.

About Freehold Royalties

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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