FY2024 EPS Estimates for Franco-Nevada Lowered by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at National Bank Financial reduced their FY2024 earnings per share estimates for shares of Franco-Nevada in a report released on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings of $3.36 per share for the year, down from their previous forecast of $3.44. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share.

A number of other research analysts have also recently commented on FNV. Scotiabank upped their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a report on Friday, August 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $136.25 on Thursday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $139.93. The stock has a market cap of $26.22 billion, a P/E ratio of -54.72, a P/E/G ratio of 20.13 and a beta of 0.76. The stock’s 50 day simple moving average is $124.31 and its 200-day simple moving average is $123.09.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently bought and sold shares of the business. Mechanics Financial Corp increased its holdings in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new position in Franco-Nevada in the second quarter valued at $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada in the second quarter valued at $36,000. Sunbelt Securities Inc. boosted its stake in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.