Wall Street brokerages expect Franco Nevada Corp (NYSE:FNV) (TSE:FNV) to post $215.53 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Franco Nevada’s earnings, with the lowest sales estimate coming in at $200.00 million and the highest estimate coming in at $231.05 million. Franco Nevada reported sales of $170.60 million during the same quarter last year, which indicates a positive year over year growth rate of 26.3%. The firm is expected to report its next earnings results on Monday, November 4th.
According to Zacks, analysts expect that Franco Nevada will report full year sales of $799.84 million for the current fiscal year, with estimates ranging from $768.00 million to $830.51 million. For the next year, analysts expect that the company will post sales of $986.11 million, with estimates ranging from $937.00 million to $1.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Franco Nevada.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. Franco Nevada had a return on equity of 4.83% and a net margin of 22.42%. The business had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $175.55 million. During the same period in the previous year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year.
Several brokerages have weighed in on FNV. TD Securities boosted their price objective on Franco Nevada from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. TheStreet raised Franco Nevada from a “c+” rating to a “b-” rating in a report on Tuesday, June 18th. GMP Securities cut Franco Nevada from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Canaccord Genuity reissued a “buy” rating on shares of Franco Nevada in a report on Friday, August 23rd. Finally, Credit Suisse Group boosted their price objective on Franco Nevada from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $98.65.
Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of Franco Nevada by 5.3% during the 2nd quarter. Wells Fargo & Company MN now owns 40,422 shares of the basic materials company’s stock worth $3,430,000 after buying an additional 2,027 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Franco Nevada by 311.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,172 shares of the basic materials company’s stock valued at $1,033,000 after purchasing an additional 9,215 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Franco Nevada in the 2nd quarter valued at approximately $4,153,000. DekaBank Deutsche Girozentrale grew its position in shares of Franco Nevada by 128.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 13,602 shares of the basic materials company’s stock valued at $1,142,000 after purchasing an additional 7,654 shares during the period. Finally, AlphaCrest Capital Management LLC grew its position in shares of Franco Nevada by 27.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 12,597 shares of the basic materials company’s stock valued at $945,000 after purchasing an additional 2,732 shares during the period. Institutional investors own 63.83% of the company’s stock.
Shares of Franco Nevada stock traded down $3.42 during trading on Friday, reaching $92.60. The company’s stock had a trading volume of 572,236 shares, compared to its average volume of 620,125. The stock has a 50-day moving average price of $94.92 and a two-hundred day moving average price of $83.92. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.06. Franco Nevada has a one year low of $61.14 and a one year high of $101.19. The stock has a market capitalization of $17.78 billion, a P/E ratio of 79.15, a price-to-earnings-growth ratio of 15.19 and a beta of -0.03.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a dividend of $0.439 per share. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.25. This represents a $1.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Wednesday, September 11th. Franco Nevada’s payout ratio is presently 85.47%.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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