Analysts Set Expectations for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at HC Wainwright boosted their FY2024 earnings estimates for shares of Franco-Nevada in a research report issued on Friday, December 20th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will earn $2.81 per share for the year, up from their previous forecast of $2.78. HC Wainwright has a “Buy” rating and a $155.00 price objective on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.22 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.68 EPS.

Several other analysts have also recently weighed in on FNV. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Stock Performance

FNV opened at $117.44 on Monday. The stock has a fifty day moving average of $124.48 and a 200-day moving average of $123.27. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The company has a market capitalization of $22.61 billion, a P/E ratio of -37.16 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly 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). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was down 10.9% on a year-over-year basis.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Franco-Nevada by 31.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,043 shares of the basic materials company’s stock valued at $1,783,000 after purchasing an additional 3,626 shares during the last quarter. Meixler Investment Management Ltd. increased its holdings in shares of Franco-Nevada by 0.5% during the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after buying an additional 101 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Franco-Nevada in the 2nd quarter valued at $68,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Franco-Nevada by 3.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,813 shares of the basic materials company’s stock valued at $9,816,000 after acquiring an additional 2,751 shares in the last quarter. Finally, Tobam grew its position in Franco-Nevada by 128.9% during the 2nd quarter. Tobam now owns 8,052 shares of the basic materials company’s stock worth $954,000 after acquiring an additional 4,535 shares during the last quarter. 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.