Diversified Royalty (TSE:DIV) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Diversified Royalty's stock crossed above its 50-day moving average, trading as high as C$4.23 and last at C$4.19 on volume of 241,183 shares (50-day MA C$4.18).
• Analyst action: Desjardins raised its target to C$4.50 and gave a "Buy"; the consensus is a Moderate Buy (2 Buys, 1 Hold) with an average target of C$4.03.
• The company announced a monthly dividend of C$0.0238 (ex-dividend Apr 15) implying a 6.8% yield

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$4.18 and traded as high as C$4.23. Diversified Royalty shares last traded at C$4.19, with a volume of 241,183 shares changing hands.

Analyst Ratings Changes

Separately, Desjardins raised their target price on Diversified Royalty from C$4.00 to C$4.50 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$4.03.

Diversified Royalty Price Performance

The company has a current ratio of 0.68, a quick ratio of 1.74 and a debt-to-equity ratio of 88.76. The stock has a 50-day moving average price of C$4.18 and a 200 day moving average price of C$3.88. The stock has a market capitalization of C$716.53 million, a price-to-earnings ratio of 19.95 and a beta of 1.00.

Diversified Royalty (TSE:DIV - Get Free Report) last released its quarterly earnings results on Friday, March 20th. The company reported C$0.06 earnings per share for the quarter. Diversified Royalty had a return on equity of 12.71% and a net margin of 51.82%.The company had revenue of C$20.41 million during the quarter. As a group, equities research analysts expect that Diversified Royalty Corp. will post 0.2 earnings per share for the current year.

Diversified Royalty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.0238 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. Diversified Royalty's payout ratio is currently 126.79%.

Diversified Royalty Company Profile

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.

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