FY2024 EPS Estimates for Franco-Nevada Reduced by Scotiabank

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Analysts at Scotiabank reduced their FY2024 EPS estimates for shares of Franco-Nevada in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $3.19 per share for the year, down from their previous forecast of $3.39. Scotiabank has a “Sector Perform” rating and a $141.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.22 per share.

A number of other brokerages have also issued reports on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright cut their price target on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, December 20th. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Trading Up 2.0 %

Franco-Nevada stock opened at $126.78 on Monday. The stock has a 50-day moving average price of $121.08 and a two-hundred day moving average price of $123.66. Franco-Nevada has a 12 month low of $103.64 and a 12 month high of $137.60. The company has a market capitalization of $24.40 billion, a PE ratio of -40.12 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new position in Franco-Nevada in the fourth quarter valued at approximately $47,000. Sunbelt Securities Inc. lifted its position in shares of Franco-Nevada by 3,333.3% during the 2nd 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 during the period. Point72 DIFC Ltd bought a new position in Franco-Nevada during the third quarter worth $52,000. Erste Asset Management GmbH acquired a new stake in Franco-Nevada in the third quarter worth $55,000. Finally, Birch Capital Management LLC increased its stake in Franco-Nevada by 37.9% in the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

About Franco-Nevada

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.