Diversified Royalty (TSE:DIV) Upgraded to Strong-Buy by Ventum Cap Mkts

Ventum Cap Mkts upgraded shares of Diversified Royalty (TSE:DIV) to a strong-buy rating in a report issued on Tuesday, Zacks.com reports. Ventum Cap Mkts also issued estimates for Diversified Royalty’s Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.20 EPS and FY2025 earnings at $0.20 EPS.

Separately, Ventum Financial set a C$4.00 target price on Diversified Royalty and gave the company a buy rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diversified Royalty has an average rating of Moderate Buy and an average price target of C$3.60.

Diversified Royalty Price Performance

Shares of TSE:DIV opened at C$2.98 on Tuesday. The company’s fifty day moving average is C$2.82 and its two-hundred day moving average is C$2.80. The company has a market cap of C$493.04 million, a P/E ratio of 14.19 and a beta of 1.56. Diversified Royalty has a 12-month low of C$2.35 and a 12-month high of C$2.99. The company has a quick ratio of 1.74, a current ratio of 5.73 and a debt-to-equity ratio of 89.69.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Friday, August 9th. The company reported C$0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.05. The business had revenue of C$16.78 million for the quarter, compared to the consensus estimate of C$17.50 million. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. Equities analysts expect that Diversified Royalty will post 0.1950568 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.021 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.25 annualized dividend and a yield of 8.46%. Diversified Royalty’s dividend payout ratio (DPR) is presently 119.05%.

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 owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.