Q3 2024 EPS Estimates for Diversified Royalty Corp. Cut by Analyst (TSE:DIV)

Diversified Royalty Corp. (TSE:DIV) – Equities researchers at Raymond James dropped their Q3 2024 EPS estimates for shares of Diversified Royalty in a note issued to investors on Monday, March 25th. Raymond James analyst M. Glen now forecasts that the company will earn $0.04 per share for the quarter, down from their prior forecast of $0.05. Raymond James currently has a “Outperform” rating and a $3.40 target price on the stock. The consensus estimate for Diversified Royalty’s current full-year earnings is $0.18 per share. Raymond James also issued estimates for Diversified Royalty’s FY2024 earnings at $0.17 EPS and FY2025 earnings at $0.19 EPS.

Separately, Cormark dropped their price target on shares of Diversified Royalty from C$4.25 to C$4.00 in a report on Monday, February 26th.

Diversified Royalty Stock Performance

Shares of DIV stock opened at C$2.91 on Wednesday. The company’s 50-day moving average is C$2.82 and its 200 day moving average is C$2.70. The company has a debt-to-equity ratio of 128.77, a quick ratio of 1.74 and a current ratio of 0.69. The company has a market capitalization of C$478.67 million, a price-to-earnings ratio of 13.23 and a beta of 1.59. Diversified Royalty has a one year low of C$2.35 and a one year high of C$3.10.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings data on Thursday, March 21st. The company reported C$0.06 EPS for the quarter, beating the consensus estimate of C$0.05 by C$0.01. Diversified Royalty had a net margin of 56.15% and a return on equity of 13.46%. The company had revenue of C$16.39 million for the quarter, compared to the consensus estimate of C$16.84 million.

Diversified Royalty Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.021 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.25 annualized dividend and a dividend yield of 8.66%. This is a boost from Diversified Royalty’s previous monthly dividend of $0.02. Diversified Royalty’s dividend payout ratio (DPR) is presently 113.64%.

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.