Franco-Nevada Co. Announces Quarterly Dividend of $0.36 (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Shareholders of record on Thursday, December 5th will be given a dividend of 0.36 per share by the basic materials company on Thursday, December 19th. This represents a $1.44 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, December 5th.

Franco-Nevada has raised its dividend payment by an average of 9.7% per year over the last three years. Franco-Nevada has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Franco-Nevada to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 37.6%.

Franco-Nevada Trading Down 4.4 %

Shares of NYSE:FNV traded down $5.81 on Thursday, reaching $126.37. 1,226,784 shares of the company were exchanged, compared to its average volume of 654,886. The company has a 50-day moving average of $126.57 and a 200-day moving average of $124.09. The firm has a market cap of $24.32 billion, a price-to-earnings ratio of -43.48, a price-to-earnings-growth ratio of 22.08 and a beta of 0.75. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. As a group, analysts forecast that Franco-Nevada will post 3.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on FNV. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research report on Friday, August 16th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Franco-Nevada Company Profile

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.