PrairieSky Royalty Ltd (PSK) Price Target Raised to C$31.00
A number of other research firms have also commented on PSK. Royal Bank Of Canada raised shares of PrairieSky Royalty from a sector perform rating to an outperform rating and raised their price target for the stock from C$34.00 to C$38.00 in a research report on Thursday, May 25th. Raymond James Financial, Inc. raised their price target on shares of PrairieSky Royalty from C$34.00 to C$35.00 and gave the stock an outperform rating in a research report on Friday, May 26th. Scotiabank reaffirmed a sector perform rating and set a C$36.00 price target on shares of PrairieSky Royalty in a research report on Tuesday, April 25th. TD Securities reaffirmed a buy rating and set a C$35.00 price target on shares of PrairieSky Royalty in a research report on Tuesday, April 25th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a C$31.00 price target on shares of PrairieSky Royalty in a research report on Tuesday, April 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of C$33.80.
Shares of PrairieSky Royalty (TSE PSK) opened at 30.92 on Wednesday. The company has a 50-day moving average of $29.02 and a 200-day moving average of $29.48. The company has a market cap of $7.32 billion and a PE ratio of 84.25. PrairieSky Royalty has a 1-year low of $24.85 and a 1-year high of $34.32.
PrairieSky Royalty (TSE:PSK) last released its quarterly earnings results on Monday, July 24th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. PrairieSky Royalty had a net margin of 25.90% and a return on equity of 3.14%. The business had revenue of $102.20 million for the quarter. Equities analysts forecast that PrairieSky Royalty will post $0.39 EPS for the current year.
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The company also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.0625 dividend. This represents a $0.75 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, July 27th.
About PrairieSky Royalty
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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