Q3 2024 EPS Estimates for Franco-Nevada Co. Decreased by Analyst (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Raymond James decreased their Q3 2024 earnings per share (EPS) estimates for shares of Franco-Nevada in a report issued on Wednesday, August 14th. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.84 per share for the quarter, down from their prior forecast of $0.87. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.27 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.84 EPS and FY2024 earnings at $3.19 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business 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 39.88% and a positive return on equity of 10.81%. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS.

FNV has been the subject of several other research reports. Scotiabank boosted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday. StockNews.com cut Franco-Nevada from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Bank of America boosted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Price Performance

Shares of FNV opened at $123.25 on Monday. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of -49.50, a P/E/G ratio of 21.14 and a beta of 0.74. The business’s 50-day moving average is $122.06 and its 200-day moving average is $118.93. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $146.43.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FNV. Mechanics Financial Corp lifted its holdings in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada during the second quarter worth approximately $33,000. Kings Path Partners LLC acquired a new position in shares of Franco-Nevada during the second quarter worth approximately $36,000. Fortis Group Advisors LLC lifted its holdings in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.