Freehold Royalties (OTCMKTS:FRHLF) Announces Quarterly Earnings Results, Meets Estimates

Freehold Royalties (OTCMKTS:FRHLF) issued its quarterly earnings results on Tuesday. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20, Zacks reports. Freehold Royalties had a net margin of 43.59% and a return on equity of 13.90%. The company had revenue of $70.44 million for the quarter, compared to the consensus estimate of $73.11 million.

Freehold Royalties Stock Up 0.6%

Shares of FRHLF stock opened at $11.59 on Wednesday. Freehold Royalties has a twelve month low of $10.15 and a twelve month high of $13.58. The stock has a market cap of $1.90 billion and a P/E ratio of 19.00. The stock has a 50 day moving average of $12.22 and a 200 day moving average of $12.33. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

Several analysts have commented on FRHLF shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research note on Friday, October 9th. Raymond James Financial reiterated a “market perform” rating on shares of Freehold Royalties in a research note on Wednesday, September 16th. Five analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Freehold Royalties

Freehold Royalties Ltd. is a Canadian royalty company focused on owning oil and natural gas interests rather than directly operating wells. It earns revenue from royalties and other payments tied to production from properties developed and operated by third-party energy companies. The company’s assets include mineral title and royalty interests in oil and natural gas properties, with exposure to crude oil, natural gas and natural gas liquids. Its holdings are concentrated in Western Canada, including the Western Canadian Sedimentary Basin, and also include interests in the United States.