Pi Financial Trims Diversified Royalty (TSE:DIV) Target Price to C$3.00
Diversified Royalty (TSE:DIV) had its target price trimmed by Pi Financial from C$3.25 to C$3.00 in a report issued on Tuesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock. Pi Financial also issued estimates for Diversified Royalty’s Q3 2020 earnings at $0.03 EPS, Q4 2020 earnings at $0.03 EPS, FY2020 earnings at ($0.01) EPS and FY2021 earnings at $0.17 EPS.
Separately, Canaccord Genuity reaffirmed a buy rating and set a C$2.75 price target on shares of Diversified Royalty in a report on Thursday, June 25th.
Shares of TSE:DIV opened at C$1.88 on Tuesday. The company has a market cap of $234.31 million and a P/E ratio of -940.00. The company has a debt-to-equity ratio of 72.92, a current ratio of 5.64 and a quick ratio of 5.47. Diversified Royalty has a 1 year low of C$1.17 and a 1 year high of C$3.44. The stock’s fifty day moving average price is C$1.89 and its 200-day moving average price is C$2.15.
The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be issued a $0.0167 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 10.66%. The ex-dividend date is Thursday, August 13th. Diversified Royalty’s dividend payout ratio is -11,177.00%.
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 primarily holds the Canadian and United States trademarks and other intellectual property rights related to the Original Joe's, Elephant & Castle, and State & Main restaurant businesses.
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