Equities analysts forecast that Franco Nevada Corp (NYSE:FNV) (TSE:FNV) will post earnings per share (EPS) of $0.29 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Franco Nevada’s earnings. The lowest EPS estimate is $0.25 and the highest is $0.33. Franco Nevada reported earnings per share of $0.30 in the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The company is expected to issue its next earnings results on Monday, November 5th.
On average, analysts expect that Franco Nevada will report full-year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.12 to $1.34. For the next year, analysts anticipate that the firm will post earnings of $1.33 per share, with EPS estimates ranging from $1.15 to $1.52. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Franco Nevada.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $161.30 million during the quarter, compared to the consensus estimate of $169.46 million. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share.
FNV has been the subject of several analyst reports. ValuEngine downgraded shares of Franco Nevada from a “hold” rating to a “sell” rating in a research note on Tuesday. Desjardins raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Macquarie downgraded shares of Franco Nevada from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 10th. Finally, TD Securities set a $93.00 price target on shares of Franco Nevada and gave the company a “buy” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $93.71.
Shares of FNV stock traded down $0.06 during trading hours on Friday, hitting $60.99. 604,700 shares of the company’s stock traded hands, compared to its average volume of 582,351. The company has a market capitalization of $11.91 billion, a P/E ratio of 56.61, a PEG ratio of 13.35 and a beta of -0.19. Franco Nevada has a 12 month low of $60.56 and a 12 month high of $86.06.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, September 12th. Franco Nevada’s dividend payout ratio is presently 88.89%.
A number of hedge funds and other institutional investors have recently made changes to their positions in FNV. Bank of Montreal Can bought a new position in Franco Nevada during the second quarter worth $494,119,000. Fiera Capital Corp raised its stake in Franco Nevada by 217.2% during the second quarter. Fiera Capital Corp now owns 3,682,984 shares of the basic materials company’s stock worth $268,834,000 after buying an additional 2,521,932 shares during the last quarter. Van ECK Associates Corp raised its stake in Franco Nevada by 35.7% during the first quarter. Van ECK Associates Corp now owns 8,583,214 shares of the basic materials company’s stock worth $587,006,000 after buying an additional 2,259,834 shares during the last quarter. Toronto Dominion Bank raised its stake in Franco Nevada by 54.5% during the first quarter. Toronto Dominion Bank now owns 1,647,700 shares of the basic materials company’s stock worth $112,278,000 after buying an additional 581,131 shares during the last quarter. Finally, Addenda Capital Inc. bought a new position in Franco Nevada during the second quarter worth $29,528,000. 63.58% of the stock is owned by institutional investors and hedge funds.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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