PrairieSky Royalty Ltd (PSK) Cut to “Hold” at TD Securities
TD Securities cut shares of PrairieSky Royalty Ltd (TSE:PSK) from a buy rating to a hold rating in a report released on Monday. The firm currently has C$32.00 target price on the stock, down from their prior target price of C$33.00.
Several other brokerages have also recently issued reports on PSK. Royal Bank Of Canada boosted their price objective on shares of PrairieSky Royalty from C$34.00 to C$35.00 and gave the company an outperform rating in a research note on Wednesday, July 26th. National Bank Financial lowered their price objective on shares of PrairieSky Royalty from C$30.00 to C$29.00 in a research note on Friday, June 23rd. Finally, GMP Securities boosted their price objective on shares of PrairieSky Royalty from C$30.00 to C$31.00 in a research note on Wednesday, July 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of C$33.50.
PrairieSky Royalty (PSK) opened at 32.28 on Monday. PrairieSky Royalty has a 12-month low of $27.10 and a 12-month high of $34.32. The company has a 50-day moving average price of $30.51 and a 200-day moving average price of $29.47. The firm has a market capitalization of $7.64 billion and a PE ratio of 87.96.
PrairieSky Royalty (TSE:PSK) last released its earnings results on Monday, July 24th. The company reported C$0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.08 by C$0.09. The firm had revenue of C$102.20 million during the quarter. PrairieSky Royalty had a net margin of 39.63% and a return on equity of 5.85%. On average, analysts predict that PrairieSky Royalty will post $0.38 earnings per share for the current year.
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The business also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 16th will be paid a dividend of $0.0625 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.75 annualized dividend and a dividend yield of 2.32%.
PrairieSky Royalty Company Profile
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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