Analysts Set Expectations for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for shares of Franco-Nevada in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now expects 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 released its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share.

Several other research analysts have also recently issued reports on FNV. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Scotiabank upped their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group reduced their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Stock Performance

NYSE:FNV opened at $135.65 on Thursday. The stock has a 50-day simple moving average of $124.91 and a 200-day simple moving average of $123.28. The stock has a market cap of $26.10 billion, a P/E ratio of -54.48, a P/E/G ratio of 20.13 and a beta of 0.76. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.52.

Institutional Trading of Franco-Nevada

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. purchased a new stake in Franco-Nevada during the 3rd quarter valued at approximately $201,000. Integrated Advisors Network LLC acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $495,000. Asahi Life Asset Management CO. LTD. acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $362,000. Graham Capital Wealth Management LLC grew its holdings in shares of Franco-Nevada by 3.6% in the 3rd quarter. Graham Capital Wealth Management LLC now owns 21,955 shares of the basic materials company’s stock worth $2,728,000 after acquiring an additional 772 shares during the period. Finally, Fortune Financial Advisors LLC grew its holdings in shares of Franco-Nevada by 4.5% in the 3rd quarter. Fortune Financial Advisors LLC now owns 5,293 shares of the basic materials company’s stock worth $658,000 after acquiring an additional 228 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Dividend Announcement

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

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.