Franco-Nevada Corporation Expected to Earn Q3 2017 Earnings of $0.28 Per Share (FNV)
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) – Stock analysts at National Bank Financial lifted their Q3 2017 earnings per share (EPS) estimates for shares of Franco-Nevada Corporation in a research note issued on Tuesday. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings per share of $0.28 for the quarter, up from their prior forecast of $0.26. National Bank Financial also issued estimates for Franco-Nevada Corporation’s FY2017 earnings at $1.06 EPS and FY2018 earnings at $1.16 EPS.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The firm had revenue of $163.60 million for the quarter, compared to analysts’ expectations of $164.62 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the company. TD Securities set a $92.00 price target on Franco-Nevada Corporation and gave the stock a “buy” rating in a research note on Thursday. Credit Suisse Group lowered Franco-Nevada Corporation from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $78.00 to $80.00 in a research note on Monday, September 25th. Scotiabank raised their price target on Franco-Nevada Corporation from $79.50 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday, September 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Thursday, September 7th. Finally, ValuEngine raised Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.81.
Franco-Nevada Corporation (NYSE:FNV) opened at 79.72 on Friday. The stock has a market capitalization of $14.78 billion, a PE ratio of 100.53 and a beta of -0.12. The stock’s 50 day moving average price is $80.33 and its 200 day moving average price is $74.34. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $85.03.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio (DPR) is presently 119.48%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its position in Franco-Nevada Corporation by 7.5% during the 2nd quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock valued at $1,068,190,000 after purchasing an additional 1,028,578 shares in the last quarter. Vanguard Group Inc. raised its position in Franco-Nevada Corporation by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,221,772 shares of the basic materials company’s stock valued at $304,643,000 after purchasing an additional 145,698 shares in the last quarter. TD Asset Management Inc. raised its position in Franco-Nevada Corporation by 6.0% during the 2nd quarter. TD Asset Management Inc. now owns 3,432,041 shares of the basic materials company’s stock valued at $247,287,000 after purchasing an additional 194,998 shares in the last quarter. Franklin Resources Inc. raised its position in Franco-Nevada Corporation by 30.0% during the 2nd quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock valued at $202,127,000 after purchasing an additional 646,929 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in Franco-Nevada Corporation by 3.7% during the 2nd quarter. CIBC World Markets Inc. now owns 2,565,447 shares of the basic materials company’s stock valued at $185,123,000 after purchasing an additional 90,845 shares in the last quarter. 60.24% of the stock is owned by institutional investors and hedge funds.
Franco-Nevada Corporation Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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