PrairieSky Royalty Ltd (PSK) Rating Lowered to Hold at TD Securities
PrairieSky Royalty Ltd (TSE:PSK) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a report issued on Monday. They presently have a C$32.00 price target on the stock, down from their prior price target of C$33.00. TD Securities’ price objective suggests a potential upside of 0.28% from the company’s previous close.
A number of other analysts have also recently weighed in on PSK. GMP Securities raised their price target on PrairieSky Royalty from C$30.00 to C$31.00 in a research note on Wednesday, July 26th. Royal Bank Of Canada lowered their price objective on PrairieSky Royalty from C$38.00 to C$34.00 in a research report on Thursday, July 20th. Finally, National Bank Financial lowered their price objective on PrairieSky Royalty from C$30.00 to C$29.00 in a research report on Friday, June 23rd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of C$33.50.
Shares of PrairieSky Royalty (TSE:PSK) opened at 31.91 on Monday. PrairieSky Royalty has a 1-year low of $27.10 and a 1-year high of $34.32. The firm has a 50-day moving average price of $30.29 and a 200-day moving average price of $29.43. The stock has a market capitalization of $7.55 billion and a PE ratio of 86.95.
PrairieSky Royalty (TSE:PSK) last issued its earnings results on Monday, July 24th. The company reported C$0.17 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that PrairieSky Royalty will post $0.38 earnings per share for the current year.
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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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