Diversified Royalty Corp. to Post Q1 2024 Earnings of $0.03 Per Share, Cormark Forecasts (TSE:DIV)

Diversified Royalty Corp. (TSE:DIV) – Equities research analysts at Cormark issued their Q1 2024 EPS estimates for Diversified Royalty in a research note issued on Monday, March 25th. Cormark analyst J. Fenwick anticipates that the company will post earnings of $0.03 per share for the quarter. The consensus estimate for Diversified Royalty’s current full-year earnings is $0.20 per share. Cormark also issued estimates for Diversified Royalty’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.17 EPS and FY2025 earnings at $0.20 EPS.

Separately, Raymond James set a C$3.40 target price on Diversified Royalty and gave the company an “outperform” rating in a research note on Thursday, February 8th.

Diversified Royalty Price Performance

Shares of Diversified Royalty stock opened at C$2.90 on Tuesday. The company has a market capitalization of C$475.25 million, a price-to-earnings ratio of 24.17 and a beta of 1.59. The company has a quick ratio of 1.74, a current ratio of 1.39 and a debt-to-equity ratio of 87.08. The stock’s 50-day simple moving average is C$2.82 and its 200-day simple moving average is C$2.70. Diversified Royalty has a 52 week low of C$2.35 and a 52 week high of C$3.10.

Diversified Royalty (TSE:DIV) last released its earnings results on Thursday, March 21st. The company reported C$0.06 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.05 by C$0.01. The company had revenue of C$16.39 million for the quarter, compared to analysts’ expectations of C$16.84 million. Diversified Royalty had a net margin of 34.31% and a return on equity of 8.30%.

Diversified Royalty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a $0.021 dividend. This is an increase from Diversified Royalty’s previous monthly dividend of $0.02. This represents a $0.25 dividend on an annualized basis and a yield of 8.69%. The ex-dividend date is Thursday, March 14th. Diversified Royalty’s payout ratio is currently 208.33%.

About Diversified Royalty

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Stratus Building Solutions, Nurse Next Door, and Oxford Learning Centres trademarks. The company was formerly known as BENEV Capital Inc and changed its name to Diversified Royalty Corp.