Freehold Royalties (TSE:FRU) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Freehold Royalties shares slipped below their 200-day moving average on Wednesday, trading as low as C$16.31 before last changing hands at C$16.41.
• Analyst sentiment remains cautious: Raymond James downgraded the stock to hold while raising its target to C$18.00, and RBC also lifted its target to C$18.00 with a sector perform rating. The consensus view is Hold with an average target price of C$17.03.
• The company recently reported quarterly earnings of C$0.21 per share and declared a monthly dividend of C$0.09 per share, implying an annualized yield of about 6.6%.

Freehold Royalties Ltd. (TSE:FRU - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$16.83 and traded as low as C$16.31. Freehold Royalties shares last traded at C$16.41, with a volume of 564,269 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FRU. Raymond James Financial cut shares of Freehold Royalties from a "moderate buy" rating to a "hold" rating and lifted their target price for the stock from C$17.50 to C$18.00 in a research report on Monday, March 30th. Royal Bank Of Canada upped their price target on shares of Freehold Royalties from C$17.00 to C$18.00 and gave the company a "sector perform" rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of C$17.03.

Freehold Royalties Stock Up 0.2%

The company has a current ratio of 1.73, a quick ratio of 1.50 and a debt-to-equity ratio of 30.45. The stock has a 50 day simple moving average of C$16.91 and a 200 day simple moving average of C$16.83. The firm has a market capitalization of C$2.69 billion, a PE ratio of 30.39, a PEG ratio of -0.92 and a beta of 0.59.

Freehold Royalties (TSE:FRU - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.21 earnings per share for the quarter. Freehold Royalties had a return on equity of 8.81% and a net margin of 29.84%.The firm had revenue of C$77.82 million during the quarter. As a group, sell-side analysts forecast 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, August 17th. Shareholders of record on Monday, August 17th will be issued a $0.09 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, July 31st. Freehold Royalties's dividend payout ratio (DPR) is 200.00%.

Insider Transactions at Freehold Royalties

In other news, insider Bradley Robert Monaco acquired 6,060 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of C$16.56 per share, for a total transaction of C$100,353.60. Following the completion of the transaction, the insider owned 6,060 shares of the company's stock, valued at C$100,353.60. The trade was a ∞ increase in their ownership of the stock. 0.45% of the stock is currently owned by company insiders.

Freehold Royalties Company Profile

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.

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