Zacks: Brokerages Expect Franco Nevada Corp (NYSE:FNV) Will Announce Quarterly Sales of $215.53 Million

Brokerages forecast that Franco Nevada Corp (NYSE:FNV) (TSE:FNV) will post sales of $215.53 million for the current quarter, Zacks reports. Two analysts have provided estimates for Franco Nevada’s earnings. The highest sales estimate is $231.05 million and the lowest is $200.00 million. Franco Nevada posted sales of $170.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.3%. The firm is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Franco Nevada will report full-year sales of $799.84 million for the current financial year, with estimates ranging from $768.00 million to $830.51 million. For the next fiscal year, analysts anticipate that the company will post sales of $986.11 million, with estimates ranging from $937.00 million to $1.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Franco Nevada.

Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The company had revenue of $170.50 million during the quarter, compared to the consensus estimate of $175.55 million. Franco Nevada had a net margin of 22.42% and a return on equity of 4.83%. Franco Nevada’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS.

A number of brokerages have recently issued reports on FNV. Credit Suisse Group raised their price target on shares of Franco Nevada from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Raymond James increased their price objective on shares of Franco Nevada from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. TheStreet raised shares of Franco Nevada from a “c+” rating to a “b-” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of Franco Nevada from $110.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Finally, TD Securities increased their price objective on shares of Franco Nevada from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Franco Nevada has a consensus rating of “Hold” and a consensus target price of $98.65.

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Franco Nevada by 10.1% in the 1st quarter. FMR LLC now owns 13,330,986 shares of the basic materials company’s stock valued at $999,462,000 after purchasing an additional 1,222,750 shares in the last quarter. Prudential PLC acquired a new stake in shares of Franco Nevada in the 2nd quarter valued at $87,966,000. Mackenzie Financial Corp raised its holdings in shares of Franco Nevada by 413.6% in the 2nd quarter. Mackenzie Financial Corp now owns 871,792 shares of the basic materials company’s stock valued at $73,998,000 after purchasing an additional 702,065 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Franco Nevada by 239.9% in the 2nd quarter. Invesco Ltd. now owns 894,881 shares of the basic materials company’s stock valued at $75,956,000 after purchasing an additional 631,636 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Franco Nevada by 20.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,675,031 shares of the basic materials company’s stock valued at $311,948,000 after purchasing an additional 621,600 shares in the last quarter. 63.83% of the stock is owned by institutional investors.

FNV stock traded down $3.42 during mid-day 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 company’s 50 day moving average is $94.92 and its two-hundred day moving average is $83.92. The stock has a market cap of $17.78 billion, a PE ratio of 79.15, a P/E/G ratio of 15.19 and a beta of -0.03. 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 fifty-two week low of $61.14 and a fifty-two week high of $101.19.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.439 dividend. This represents a $1.76 annualized dividend and a yield of 1.90%. The ex-dividend date was Wednesday, September 11th. This is a boost from Franco Nevada’s previous quarterly dividend of $0.25. Franco Nevada’s dividend payout ratio (DPR) is currently 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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Earnings History and Estimates for Franco Nevada (NYSE:FNV)

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