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

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

Franco-Nevada Stock Up 3.8 %

FNV stock traded up $5.15 during midday trading on Friday, reaching $141.92. 404,912 shares of the company’s stock traded hands, compared to its average volume of 665,316. The company has a 50-day simple moving average of $138.39 and a two-hundred day simple moving average of $132.45. Franco-Nevada has a 1-year low of $109.70 and a 1-year high of $169.32. The company has a market cap of $27.23 billion, a price-to-earnings ratio of 34.63, a PEG 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. Investors of record on Thursday, March 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. Franco-Nevada’s dividend payout ratio (DPR) is 32.41%.

Wall Street Analyst Weigh In

A number of research firms have commented on FNV. Stifel Nicolaus downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Raymond James lowered their target price on Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. StockNews.com began coverage on shares of Franco-Nevada in a research note on Thursday. They set a “hold” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $145.00 price objective on shares of Franco-Nevada in a research note on Friday. Finally, Barclays boosted their target price on shares of Franco-Nevada from $111.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, January 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $166.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FNV. IHT Wealth Management LLC grew its holdings in Franco-Nevada by 4.6% during the 4th quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after acquiring an additional 78 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Franco-Nevada by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock worth $626,000 after purchasing an additional 85 shares during the period. Alliancebernstein L.P. raised its holdings in Franco-Nevada by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company’s stock worth $2,247,000 after buying an additional 94 shares during the period. SVB Wealth LLC lifted its position in Franco-Nevada by 4.7% in the 1st quarter. SVB Wealth LLC now owns 2,714 shares of the basic materials company’s stock valued at $433,000 after acquiring an additional 121 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its holdings in shares of Franco-Nevada by 5.5% in the first quarter. Wetherby Asset Management Inc. now owns 2,322 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 122 shares in the last quarter. 66.69% of the stock is currently owned by institutional investors.

About Franco-Nevada

(Get Rating)

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.