Franco Nevada Corp (NYSE:FNV) (TSE:FNV) – Analysts at National Bank Financial dropped their FY2018 EPS estimates for shares of Franco Nevada in a report issued on Wednesday. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings of $1.08 per share for the year, down from their previous estimate of $1.20. National Bank Financial also issued estimates for Franco Nevada’s FY2019 earnings at $1.26 EPS and FY2020 earnings at $1.33 EPS.
A number of other brokerages have also recently commented on FNV. TD Securities set a $96.00 price target on shares of Franco Nevada and gave the company a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Franco Nevada from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Desjardins restated a “sell” rating on shares of Franco Nevada in a research note on Monday, December 11th. Raymond James Financial lowered their target price on shares of Franco Nevada from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 23rd. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $88.00.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, March 7th. The basic materials company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $167.00 million for the quarter, compared to analysts’ expectations of $171.99 million. Franco Nevada had a net margin of 28.84% and a return on equity of 4.38%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, March 14th. Franco Nevada’s dividend payout ratio is presently 87.62%.
A number of hedge funds and other institutional investors have recently bought and sold shares of FNV. Nationwide Fund Advisors purchased a new stake in Franco Nevada in the 3rd quarter worth approximately $1,567,000. American Century Companies Inc. increased its holdings in shares of Franco Nevada by 49.5% in the 3rd quarter. American Century Companies Inc. now owns 442,680 shares of the basic materials company’s stock worth $34,296,000 after buying an additional 146,586 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Franco Nevada by 6.1% in the 3rd quarter. CIBC Asset Management Inc now owns 2,087,452 shares of the basic materials company’s stock worth $161,281,000 after buying an additional 120,925 shares during the last quarter. CI Investments Inc. bought a new position in shares of Franco Nevada in the 3rd quarter worth $14,049,000. Finally, Advisor Group Inc. increased its holdings in shares of Franco Nevada by 191.5% in the 3rd quarter. Advisor Group Inc. now owns 11,638 shares of the basic materials company’s stock worth $901,000 after buying an additional 7,645 shares during the last quarter. Institutional investors and hedge funds own 63.37% of the company’s stock.
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Franco Nevada Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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