FY2024 EPS Estimates for Franco-Nevada Lowered by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – National Bank Financial lowered their FY2024 earnings estimates for Franco-Nevada in a research note issued on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings per share of $3.36 for the year, down from their prior forecast of $3.44. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share.

FNV has been the subject of a number of other research reports. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Scotiabank increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Stock Up 0.2 %

Shares of NYSE:FNV opened at $136.25 on Thursday. The company has a market cap of $26.22 billion, a P/E ratio of -54.72, a PEG ratio of 20.13 and a beta of 0.76. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $139.93. The company has a 50-day moving average price of $124.31 and a 200 day moving average price of $123.09.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FNV. Allspring Global Investments Holdings LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter worth $276,446,000. M&G Plc acquired a new stake in shares of Franco-Nevada during the 1st quarter worth $219,971,000. EdgePoint Investment Group Inc. increased its holdings in shares of Franco-Nevada by 68.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after buying an additional 1,117,523 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after buying an additional 706,919 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Franco-Nevada during the 1st quarter worth $47,681,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.