Franco-Nevada (NYSE:FNV) Releases Earnings Results, Beats Expectations By $0.01 EPS

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.86 EPS 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 firm had revenue of $320.40 million for the quarter, compared to the consensus estimate of $307.88 million. During the same period last year, the firm earned $0.86 EPS. The company’s revenue was down 2.2% on a year-over-year basis.

Franco-Nevada Stock Performance

NYSE FNV opened at $136.77 on Friday. The stock has a 50 day moving average price of $138.45 and a 200-day moving average price of $132.42. Franco-Nevada has a one year low of $109.70 and a one year high of $169.32. The company has a market capitalization of $26.24 billion, a P/E ratio of 34.63, a P/E/G ratio of 9.88 and a beta of 0.69.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 15th. Franco-Nevada’s dividend payout ratio is 32.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. CIBC increased their price target on Franco-Nevada from C$230.00 to C$240.00 in a research note on Tuesday, February 7th. Barclays increased their target price on Franco-Nevada from $111.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, January 30th. StockNews.com started coverage on Franco-Nevada in a report on Thursday. They issued a “hold” rating on the stock. Stifel Nicolaus lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Finally, National Bank Financial boosted their target price on shares of Franco-Nevada from C$190.00 to C$200.00 in a report on Friday, January 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and a consensus target price of $166.57.

Institutional Investors Weigh In On Franco-Nevada

Several large investors have recently bought and sold shares of FNV. BlackRock Inc. increased its holdings in shares of Franco-Nevada by 3.3% in the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock worth $61,693,000 after buying an additional 12,446 shares during the last quarter. Raymond James Trust N.A. grew its position in Franco-Nevada by 10.2% in the first quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock worth $318,000 after acquiring an additional 184 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Franco-Nevada by 23.1% during the first quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock worth $11,035,000 after acquiring an additional 12,993 shares during the last quarter. Aviva PLC raised its position in Franco-Nevada by 5.8% during the first quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock valued at $10,040,000 after purchasing an additional 3,438 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Franco-Nevada by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock valued at $1,014,271,000 after purchasing an additional 141,139 shares during the last quarter. Institutional investors own 66.69% of the company’s stock.

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.