Brokers Issue Forecasts for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) – Analysts at Scotiabank lowered their FY2024 earnings per share estimates for Franco-Nevada in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings per share of $4.59 for the year, down from their previous estimate of $4.61. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.11 per share. Scotiabank also issued estimates for Franco-Nevada’s FY2025 earnings at $5.68 EPS.

A number of other equities research analysts have also recently weighed in on the company. CIBC boosted their price objective on Franco-Nevada from C$235.00 to C$245.00 in a research note on Monday, December 2nd. Stifel Nicolaus raised their price objective on shares of Franco-Nevada from C$200.00 to C$215.00 in a research report on Monday, October 21st. Canaccord Genuity Group reduced their target price on shares of Franco-Nevada from C$198.00 to C$190.00 and set a “strong-buy” rating for the company in a report on Monday, November 18th. Finally, UBS Group raised Franco-Nevada to a “strong-buy” rating in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Buy” and a consensus price target of C$190.80.

Franco-Nevada Stock Down 2.4 %

Franco-Nevada stock opened at C$178.97 on Monday. The stock has a 50-day simple moving average of C$172.10 and a 200-day simple moving average of C$170.46. The company has a market capitalization of C$34.44 billion, a P/E ratio of -42.71, a PEG ratio of 5.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.63, a quick ratio of 23.26 and a current ratio of 29.11. Franco-Nevada has a fifty-two week low of C$140.67 and a fifty-two week high of C$191.17.

Franco-Nevada Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.487 per share. The ex-dividend date was Thursday, December 5th. This represents a $1.95 annualized dividend and a yield of 1.09%. Franco-Nevada’s dividend payout ratio is currently -46.30%.

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.