Franco-Nevada (NYSE:FNV) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08, Briefing.com reports. The firm had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share.

Franco-Nevada Stock Up 1.9 %

NYSE:FNV traded up $2.34 during trading hours on Friday, reaching $123.25. 683,906 shares of the stock were exchanged, compared to its average volume of 689,409. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $161.25. The business has a 50-day moving average of $116.74 and a two-hundred day moving average of $115.27. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of -49.50, a PEG ratio of 6.17 and a beta of 0.72.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 13th. Franco-Nevada’s payout ratio is -54.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FNV. Bank of America reduced their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Jefferies Financial Group raised their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Scotiabank boosted their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Finally, Raymond James raised their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $148.60.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.