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

Diversified Royalty (TSE:DIV) had its price objective upped by equities researchers at Raymond James Financial from C$4.25 to C$4.70 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential downside of 3.29% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Desjardins lifted their price target on Diversified Royalty from C$4.50 to C$4.75 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group lifted 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$4.74.

Diversified Royalty Stock Performance

Shares of TSE DIV traded up C$0.19 during trading on Wednesday, reaching C$4.86. 1,503,490 shares of the company traded hands, compared to its average volume of 369,059. The firm’s fifty day simple moving average is C$4.21 and its 200 day simple moving average is C$3.96. The stock has a market cap of C$831.10 million, a P/E ratio of 23.14 and a beta of 1.07. Diversified Royalty has a 12-month low of C$2.87 and a 12-month high of C$4.88. The company has a current ratio of 2.84, a quick ratio of 1.74 and a debt-to-equity ratio of 103.05.

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

About Diversified Royalty

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.