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

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

Franco-Nevada Trading Up 0.9 %

FNV stock opened at $136.77 on Friday. The firm has a 50-day moving average price of $138.39 and a 200-day moving average price of $132.45. The stock has a market capitalization of $26.24 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 9.88 and a beta of 0.69. Franco-Nevada has a 12 month low of $109.70 and a 12 month high of $169.32.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be issued 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 dividend yield of 0.99%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. Franco-Nevada’s dividend payout ratio is 32.41%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in shares of Franco-Nevada during the 4th quarter worth approximately $38,000. Penserra Capital Management LLC purchased a new position in Franco-Nevada during the 1st quarter worth $47,000. Sanctuary Wealth Management L.L.C. purchased a new position in Franco-Nevada during the 4th quarter worth $65,000. Money Concepts Capital Corp boosted its holdings in Franco-Nevada by 1,213.3% during the 4th quarter. Money Concepts Capital Corp now owns 1,090 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 1,007 shares during the last quarter. Finally, Fortis Capital Advisors LLC purchased a new position in Franco-Nevada during the 4th quarter worth $154,000. Institutional investors own 66.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FNV. HC Wainwright restated a “buy” rating and issued a $145.00 price target on shares of Franco-Nevada in a research note on Friday. Barclays increased their price objective on shares of Franco-Nevada from $111.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, January 30th. Raymond James reduced their price objective on shares of Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Stifel Nicolaus downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Friday, January 20th. Finally, CIBC increased their price objective on shares of Franco-Nevada from C$230.00 to C$240.00 in a research note on Tuesday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada currently 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.