Franco-Nevada (NYSE:FNV) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.01, Briefing.com reports. The firm had revenue of $320.40 million for the quarter, compared to analysts’ expectations of $307.88 million. Franco-Nevada had a net margin of 57.18% and a return on equity of 11.27%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Franco-Nevada Trading Up 2.3 %

NYSE FNV traded up $3.10 during trading hours on Friday, reaching $139.87. The company had a trading volume of 192,432 shares, compared to its average volume of 660,482. The stock has a market capitalization of $26.84 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 9.88 and a beta of 0.69. The stock has a 50-day moving average of $138.39 and a 200 day moving average of $132.45. Franco-Nevada has a 1-year low of $109.70 and a 1-year high of $169.32.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. Franco-Nevada’s dividend payout ratio is presently 32.41%.

Institutional Trading of Franco-Nevada

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Franco-Nevada by 3.0% during the third quarter. Vanguard Group Inc. now owns 6,670,398 shares of the basic materials company’s stock worth $796,979,000 after purchasing an additional 192,144 shares during the period. Norges Bank purchased a new stake in shares of Franco-Nevada during the fourth quarter worth approximately $219,378,000. Morgan Stanley increased its stake in shares of Franco-Nevada by 18.0% during the fourth quarter. Morgan Stanley now owns 991,968 shares of the basic materials company’s stock worth $135,384,000 after buying an additional 151,211 shares during the period. BlackRock Inc. increased its stake in shares of Franco-Nevada by 0.4% during the third quarter. BlackRock Inc. now owns 627,218 shares of the basic materials company’s stock worth $74,941,000 after buying an additional 2,365 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Franco-Nevada by 27.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 409,595 shares of the basic materials company’s stock worth $65,237,000 after buying an additional 88,297 shares during the period. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FNV shares. Stifel Nicolaus cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, January 20th. StockNews.com started coverage on shares of Franco-Nevada in a research report on Thursday. They set a “hold” rating on the stock. Barclays boosted their price target on shares of Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, January 30th. HC Wainwright reissued a “buy” rating and set a $145.00 price target on shares of Franco-Nevada in a research report on Friday. Finally, CIBC upped their target price on shares of Franco-Nevada from C$230.00 to C$240.00 in a research report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $166.57.

About Franco-Nevada

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Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.