Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01, Briefing.com reports. Franco-Nevada had a net margin of 57.18% and a return on equity of 11.27%. The firm had revenue of $320.40 million for the quarter, compared to analyst estimates of $307.88 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis.
Franco-Nevada Trading Up 0.9 %
Shares of Franco-Nevada stock opened at $136.77 on Friday. The company has a market cap of $26.24 billion, a P/E ratio of 34.63, a PEG ratio of 9.88 and a beta of 0.69. The business has a 50-day moving average price of $138.45 and a two-hundred day moving average price of $132.42. Franco-Nevada has a 1-year low of $109.70 and a 1-year high of $169.32.
Franco-Nevada Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, March 15th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 0.99%. Franco-Nevada’s dividend payout ratio is presently 32.41%.
Institutional Investors Weigh In On Franco-Nevada
Analysts Set New Price Targets
FNV has been the topic of several research reports. CIBC boosted their price objective on shares of Franco-Nevada from C$230.00 to C$240.00 in a research report on Tuesday, February 7th. National Bank Financial increased their price objective on Franco-Nevada from C$190.00 to C$200.00 in a report on Friday, January 13th. Barclays lifted their target price on Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, January 30th. StockNews.com assumed coverage on shares of Franco-Nevada in a research note on Thursday. They set a “hold” rating for the company. Finally, Stifel Nicolaus lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $166.57.
Franco-Nevada Company Profile
Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.
- Get a free copy of the StockNews.com research report on Franco-Nevada (FNV)
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