Raymond James Financial Forecasts Strong Price Appreciation for Diversified Royalty (TSE:DIV) Stock

Diversified Royalty (TSE:DIV) had its price objective raised by investment analysts at Raymond James Financial from C$4.25 to C$4.70 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target indicates a potential downside of 3.29% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Desjardins increased their price objective on Diversified Royalty from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group raised their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$4.74.

Diversified Royalty Trading Up 4.1%

DIV stock traded up C$0.19 during midday trading on Wednesday, reaching C$4.86. 1,503,490 shares of the company traded hands, compared to its average volume of 369,059. Diversified Royalty has a 52-week low of C$2.87 and a 52-week high of C$4.88. The company has a debt-to-equity ratio of 103.05, a quick ratio of 1.74 and a current ratio of 2.84. The business has a 50 day moving average of C$4.21 and a 200-day moving average of C$3.96. The firm has a market capitalization of C$831.10 million, a price-to-earnings ratio of 23.14 and a beta of 1.07.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%.The firm had revenue of C$18.80 million for the quarter. As a group, sell-side analysts expect that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.