Alaris Royalty Corp. (TSE:AD) – Equities research analysts at Cormark reduced their FY2017 earnings estimates for shares of Alaris Royalty Corp. in a report released on Thursday. Cormark analyst G. Fairweather now forecasts that the company will post earnings of $1.52 per share for the year, down from their previous forecast of $1.67. Cormark also issued estimates for Alaris Royalty Corp.’s FY2018 earnings at $2.07 EPS.
AD has been the subject of several other reports. Scotiabank reduced their price objective on Alaris Royalty Corp. from C$27.00 to C$25.00 and set an “outperform” rating for the company in a report on Wednesday, May 10th. National Bank Financial lifted their price objective on Alaris Royalty Corp. from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. lifted their price objective on Alaris Royalty Corp. from C$22.00 to C$23.00 and gave the stock a “market perform” rating in a report on Tuesday, July 4th. Desjardins cut Alaris Royalty Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, CIBC reduced their price objective on Alaris Royalty Corp. from C$24.00 to C$20.00 in a report on Thursday, May 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$24.31.
Alaris Royalty Corp. (TSE AD) opened at 22.54 on Monday. The company has a 50-day moving average price of $21.69 and a 200 day moving average price of $21.81. Alaris Royalty Corp. has a 1-year low of $17.80 and a 1-year high of $24.55. The firm has a market capitalization of $821.45 million and a P/E ratio of 13.58.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.135 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date is Thursday, July 27th.
In other Alaris Royalty Corp. news, insider Darren John Driscoll acquired 1,800 shares of the stock in a transaction dated Thursday, May 25th. The stock was acquired at an average price of C$20.20 per share, with a total value of C$36,360.00. Also, Director Jack Chuck Lee acquired 3,000 shares of the stock in a transaction dated Friday, June 30th. The stock was acquired at an average cost of C$23.03 per share, with a total value of C$69,090.00. In the last ninety days, insiders bought 7,800 shares of company stock valued at $173,700.
About Alaris Royalty Corp.
Alaris Royalty Corp. is a Canada-based company providing capital to private businesses (individually, a Private Company Partner and collectively the Partners). The Company’s operations consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, or long-term license and royalty arrangements.
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