Franco-Nevada Corporation (FNV) Expected to Post Quarterly Sales of $166.92 Million
Wall Street brokerages expect Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) to post sales of $166.92 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Franco-Nevada Corporation’s earnings. The lowest sales estimate is $166.00 million and the highest is $167.55 million. Franco-Nevada Corporation posted sales of $172.00 million in the same quarter last year, which would indicate a negative year over year growth rate of 3%. The firm is expected to announce its next quarterly earnings results before the market opens on Monday, November 6th.
On average, analysts expect that Franco-Nevada Corporation will report full-year sales of $166.92 million for the current year, with estimates ranging from $667.00 million to $735.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $711.29 million per share, with estimates ranging from $671.71 million to $791.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Franco-Nevada Corporation.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $164.62 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis.
Several equities analysts recently issued reports on FNV shares. Zacks Investment Research raised Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Monday, July 24th. BidaskClub raised Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Credit Suisse Group set a $78.00 price objective on Franco-Nevada Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. TD Securities lifted their price objective on Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $100.00 price objective on shares of Franco-Nevada Corporation in a report on Monday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.65.
Shares of Franco-Nevada Corporation (FNV) opened at 79.92 on Tuesday. The company’s 50 day moving average price is $80.20 and its 200 day moving average price is $74.64. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $85.03. The stock has a market capitalization of $14.82 billion, a PE ratio of 100.78 and a beta of -0.12.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were issued a $0.23 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Franco-Nevada Corporation’s dividend payout ratio (DPR) is 119.48%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors acquired a new position in shares of Franco-Nevada Corporation in the third quarter worth $1,567,000. Assenagon Asset Management S.A. acquired a new position in shares of Franco-Nevada Corporation in the third quarter worth $307,000. Shell Asset Management Co. raised its holdings in shares of Franco-Nevada Corporation by 95.8% in the third quarter. Shell Asset Management Co. now owns 321,425 shares of the basic materials company’s stock worth $17,669,000 after acquiring an additional 157,266 shares during the last quarter. Ashford Capital Management Inc. raised its holdings in shares of Franco-Nevada Corporation by 40.2% in the second quarter. Ashford Capital Management Inc. now owns 109,512 shares of the basic materials company’s stock worth $7,902,000 after acquiring an additional 31,405 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Franco-Nevada Corporation by 199.0% in the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 1,001 shares during the last quarter. 60.00% of the stock is owned by institutional investors.
About Franco-Nevada Corporation
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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