Franco-Nevada Co. (NYSE:FNV – Free Report) (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 – Get Free Report) (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.
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.
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