Franco-Nevada (NYSE:FNV) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.85 by $0.01, Briefing.com reports. Franco-Nevada had a return on equity of 11.27% and a net margin of 57.18%. The company had revenue of $320.40 million during the quarter, compared to analyst estimates of $307.88 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. Franco-Nevada’s revenue was down 2.2% compared to the same quarter last year.

Franco-Nevada Trading Up 0.9 %

Shares of Franco-Nevada stock opened at $138.02 on Friday. Franco-Nevada has a 12 month low of $109.70 and a 12 month high of $169.32. The stock’s fifty day moving average price is $138.39 and its 200-day moving average price is $132.45. The firm has a market cap of $26.48 billion, a P/E ratio of 34.63, a P/E/G ratio of 9.88 and a beta of 0.69.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 15th. Franco-Nevada’s dividend payout ratio is currently 32.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com started coverage on shares of Franco-Nevada in a report on Thursday. They issued a “hold” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Franco-Nevada in a research note on Friday. National Bank Financial lifted their price objective on shares of Franco-Nevada from C$190.00 to C$200.00 in a research report on Friday, January 13th. CIBC lifted their target price on Franco-Nevada from C$230.00 to C$240.00 in a report on Tuesday, February 7th. Finally, Raymond James lowered their target price on Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $166.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Franco-Nevada by 3.3% during the first quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock worth $61,693,000 after buying an additional 12,446 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Franco-Nevada by 10.2% during the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock worth $318,000 after purchasing an additional 184 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Franco-Nevada by 23.1% during the first quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock valued at $11,035,000 after purchasing an additional 12,993 shares in the last quarter. Aviva PLC grew its stake in Franco-Nevada by 5.8% in the first quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock valued at $10,040,000 after purchasing an additional 3,438 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Franco-Nevada by 2.3% in the first quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock worth $1,014,271,000 after purchasing an additional 141,139 shares in the last quarter. 66.69% of the stock is currently owned by institutional investors.

Franco-Nevada Company Profile

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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.