National Bank Financial Analysts Cut Earnings Estimates for Franco-Nevada Corp. (FNV)
Franco-Nevada Corp. (NYSE:FNV) – Investment analysts at National Bank Financial dropped their Q3 2016 earnings estimates for shares of Franco-Nevada Corp. in a report released on Wednesday. National Bank Financial analyst S. Nagle now expects that the brokerage will earn $0.23 per share for the quarter, down from their prior forecast of $0.24. National Bank Financial has a “Sector Perform” rating and a $95.00 price objective on the stock.
Franco-Nevada Corp. (NYSE:FNV) last issued its earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $150.90 million for the quarter, compared to the consensus estimate of $149.36 million. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS.
Several other brokerages also recently weighed in on FNV. Deutsche Bank AG restated a “sell” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. HSBC reiterated a “buy” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. TheStreet upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, July 5th. Finally, TD Securities reiterated a “hold” rating and set a $77.00 price target on shares of Franco-Nevada Corp. in a research note on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $70.96.
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Shares of Franco-Nevada Corp. (NYSE:FNV) opened at 63.33 on Monday. Franco-Nevada Corp. has a 52 week low of $41.47 and a 52 week high of $81.16. The company has a market cap of $11.28 billion, a P/E ratio of 187.37 and a beta of 0.18. The company’s 50-day moving average price is $69.77 and its 200 day moving average price is $70.59.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.39%. Franco-Nevada Corp.’s payout ratio is 275.00%.
Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Franco-Nevada Corp. by 1,114.7% in the first quarter. Wellington Management Group LLP now owns 650,463 shares of the company’s stock worth $39,974,000 after buying an additional 596,914 shares during the last quarter. Prudential PLC boosted its position in shares of Franco-Nevada Corp. by 45.5% in the first quarter. Prudential PLC now owns 1,806,912 shares of the company’s stock worth $110,908,000 after buying an additional 565,310 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Franco-Nevada Corp. by 7.7% in the first quarter. Goldman Sachs Group Inc. now owns 583,427 shares of the company’s stock worth $35,811,000 after buying an additional 41,629 shares during the last quarter. AXA boosted its position in shares of Franco-Nevada Corp. by 34.9% in the first quarter. AXA now owns 46,499 shares of the company’s stock worth $2,867,000 after buying an additional 12,032 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. boosted its position in shares of Franco-Nevada Corp. by 10,136.3% in the first quarter. PCJ Investment Counsel Ltd. now owns 578,350 shares of the company’s stock worth $35,664,000 after buying an additional 572,700 shares during the last quarter. 64.49% of the stock is owned by institutional investors and hedge funds.
Franco-Nevada Corp. Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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