Franco-Nevada (NYSE:FNV) Releases Quarterly Earnings Results, Beats Expectations 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. Franco-Nevada had a return on equity of 11.27% and a net margin of 57.18%. The firm had revenue of $320.40 million for the quarter, compared to analysts’ expectations of $307.88 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis.

Franco-Nevada Stock Up 4.1 %

Shares of NYSE:FNV traded up $5.57 on Friday, hitting $142.34. 474,324 shares of the company traded hands, compared to its average volume of 666,488. Franco-Nevada has a 52 week low of $109.70 and a 52 week high of $169.32. The stock has a 50 day simple moving average of $138.39 and a 200-day simple moving average of $132.45. The company has a market cap of $27.31 billion, a PE ratio of 34.63, a PEG ratio of 9.88 and a beta of 0.69.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, March 15th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.96%. Franco-Nevada’s dividend payout ratio (DPR) is presently 32.41%.

Institutional Investors Weigh In On Franco-Nevada

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Franco-Nevada in the fourth quarter worth about $219,378,000. Triasima Portfolio Management inc. purchased a new position in Franco-Nevada in the fourth quarter worth about $33,842,000. Vanguard Group Inc. boosted its position in Franco-Nevada by 3.0% in 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 last quarter. Morgan Stanley boosted its position in Franco-Nevada by 18.0% in the fourth quarter. Morgan Stanley now owns 991,968 shares of the basic materials company’s stock worth $135,384,000 after purchasing an additional 151,211 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Franco-Nevada by 27.5% in 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 purchasing an additional 88,297 shares during the last quarter. 66.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FNV has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $145.00 price objective on shares of Franco-Nevada in a research report on Friday. Barclays upped their price objective on shares of Franco-Nevada from $111.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, January 30th. StockNews.com began coverage on shares of Franco-Nevada in a research report on Thursday. They issued a “hold” rating on the stock. Raymond James reduced their price target on shares of Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Finally, Stifel Nicolaus cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada presently has an average rating of “Hold” and a consensus price target 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.