Freehold Royalties (OTCMKTS:FRHLF) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Freehold Royalties (OTCMKTS:FRHLF) released its earnings results on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02, Zacks reports. Freehold Royalties had a net margin of 29.19% and a return on equity of 8.79%.

Freehold Royalties Trading Up 1.1%

Shares of FRHLF traded up $0.14 during mid-day trading on Tuesday, hitting $12.98. The company had a trading volume of 26,834 shares, compared to its average volume of 105,675. The business’s 50-day simple moving average is $12.66 and its 200-day simple moving average is $11.69. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.28. Freehold Royalties has a 1-year low of $8.50 and a 1-year high of $13.58. The stock has a market cap of $2.13 billion and a PE ratio of 32.45.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FRHLF. Canadian Imperial Bank of Commerce raised shares of Freehold Royalties to a “hold” rating in a research report on Thursday, March 12th. Desjardins upgraded shares of Freehold Royalties to a “hold” rating in a research report on Friday, March 13th. Royal Bank Of Canada raised shares of Freehold Royalties to a “hold” rating in a research note on Monday, April 13th. Finally, Raymond James Financial downgraded Freehold Royalties from a “moderate buy” rating to a “hold” rating in a report on Monday, March 30th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

About Freehold Royalties

Freehold Royalties Ltd is a Canadian energy company focused on the acquisition and management of petroleum and natural gas royalty interests. Rather than directly exploring or producing hydrocarbons, Freehold earns a portion of production revenue from wells operated by third parties. The company’s portfolio spans a variety of royalty structures, including freehold and other non-operated interests, which provide exposure to oil, natural gas and natural gas liquids without bearing the full costs and risks of exploration and development.

Freehold’s assets are concentrated in the Western Canadian Sedimentary Basin, with significant royalty interests in Alberta and British Columbia.