Royal Bank Of Canada Issues Positive Forecast for Freehold Royalties (TSE:FRU) Stock Price

Key Points

• Royal Bank of Canada raised its price target on Freehold Royalties from C$17.00 to C$18.00 and kept a "sector perform" rating, implying roughly a 4.5% upside from the prior close.
• Analyst sentiment is mixed but skewed to neutral — consensus is a Hold (one Buy, five Holds) with an average target of C$17.03 after several recent revisions by TD, National Bank, Scotiabank, Raymond James and Desjardins.
• FRU traded at C$17.22 with a market cap of C$2.82B and a P/E of 30.75; the company reported C$0.31 EPS last quarter, and insider Colin Strem recently purchased 4,000 shares.

Freehold Royalties (TSE:FRU - Get Free Report) had its price target hoisted by Royal Bank Of Canada from C$17.00 to C$18.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 4.53% from the stock's previous close.

A number of other equities analysts have also recently issued reports on FRU. National Bank Financial cut shares of Freehold Royalties from an "outperform" rating to a "hold" rating and set a C$15.00 price objective for the company. in a research report on Friday, January 9th. TD Securities decreased their price target on shares of Freehold Royalties from C$22.00 to C$21.00 and set a "buy" rating for the company in a research report on Thursday, March 12th. Scotiabank upped their price target on shares of Freehold Royalties from C$15.00 to C$16.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 20th. Raymond James Financial cut shares of Freehold Royalties from a "moderate buy" rating to a "hold" rating and upped their price target for the company from C$17.50 to C$18.00 in a research report on Monday, March 30th. Finally, Desjardins decreased their price target on shares of Freehold Royalties from C$16.50 to C$16.00 and set a "hold" rating for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of C$17.03.

Freehold Royalties Price Performance

FRU stock traded up C$0.07 during trading on Monday, reaching C$17.22. 382,476 shares of the company were exchanged, compared to its average volume of 820,895. The company has a 50-day moving average of C$17.23 and a two-hundred day moving average of C$15.64. The company has a market capitalization of C$2.82 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of -0.92 and a beta of 0.55. Freehold Royalties has a twelve month low of C$11.10 and a twelve month high of C$18.22. The company has a debt-to-equity ratio of 28.51, a current ratio of 1.41 and a quick ratio of 1.50.

Freehold Royalties (TSE:FRU - Get Free Report) last released its quarterly earnings data on Wednesday, March 11th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$69.76 million during the quarter. Freehold Royalties had a net margin of 29.28% and a return on equity of 8.82%. As a group, equities analysts predict that Freehold Royalties will post 0.7581169 earnings per share for the current fiscal year.

Insider Buying and Selling at Freehold Royalties

In other news, insider Colin Strem acquired 4,000 shares of the firm's stock in a transaction dated Tuesday, March 31st. The stock was bought at an average cost of C$17.37 per share, for a total transaction of C$69,480.00. Following the completion of the transaction, the insider directly owned 24,000 shares in the company, valued at C$416,880. This represents a 20.00% increase in their position. 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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