Freehold Royalties (OTCMKTS:FRHLF) Releases Earnings Results, Beats Expectations By $0.02 EPS

Freehold Royalties (OTCMKTS:FRHLF) announced its quarterly earnings results on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02, Zacks reports. Freehold Royalties had a return on equity of 8.80% and a net margin of 29.91%.The company had revenue of $55.93 million for the quarter, compared to the consensus estimate of $52.04 million.

Freehold Royalties Stock Up 1.3%

Shares of FRHLF stock traded up $0.16 during midday trading on Thursday, reaching $12.90. 2,756 shares of the stock were exchanged, compared to its average volume of 103,972. Freehold Royalties has a 1 year low of $8.68 and a 1 year high of $13.58. The company’s 50 day moving average is $12.66 and its two-hundred day moving average is $11.73. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.12 billion and a PE ratio of 33.08.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a report on Wednesday. Raymond James Financial downgraded Freehold Royalties from a “moderate buy” rating to a “hold” rating in a report on Monday, March 30th. Royal Bank Of Canada upgraded Freehold Royalties to a “hold” rating in a report on Monday, April 13th. Finally, Desjardins upgraded Freehold Royalties to a “hold” rating in a report on Friday, March 13th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

About Freehold Royalties

Freehold Royalties Ltd is a Canadian energy company focused on the acquisition and management of petroleum and natural gas royalty interests. Rather than directly exploring or producing hydrocarbons, Freehold earns a portion of production revenue from wells operated by third parties. The company’s portfolio spans a variety of royalty structures, including freehold and other non-operated interests, which provide exposure to oil, natural gas and natural gas liquids without bearing the full costs and risks of exploration and development.

Freehold’s assets are concentrated in the Western Canadian Sedimentary Basin, with significant royalty interests in Alberta and British Columbia.