Analysts forecast that Franco Nevada Corp (NYSE:FNV) (TSE:FNV) will report $173.64 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Franco Nevada’s earnings. The highest sales estimate is $182.14 million and the lowest is $165.00 million. Franco Nevada posted sales of $161.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The business is expected to report its next quarterly earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Franco Nevada will report full year sales of $744.39 million for the current financial year, with estimates ranging from $677.00 million to $821.00 million. For the next year, analysts anticipate that the firm will post sales of $851.66 million, with estimates ranging from $818.00 million to $876.79 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Franco Nevada.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.07. The firm had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $166.15 million. Franco Nevada had a return on equity of 4.64% and a net margin of 21.16%.
Several brokerages have weighed in on FNV. TD Securities lifted their price objective on Franco Nevada from $90.00 to $92.00 and gave the company a “buy” rating in a report on Friday, May 10th. Raymond James reissued an “outperform” rating and set a $87.00 price target on shares of Franco Nevada in a report on Friday, May 10th. Zacks Investment Research raised Franco Nevada from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Tuesday, January 29th. Royal Bank of Canada cut Franco Nevada from an “outperform” rating to a “sector perform” rating and set a $75.54 price target for the company. in a report on Wednesday. Finally, Deutsche Bank boosted their price target on Franco Nevada from $73.50 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $83.93.
Institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC acquired a new position in Franco Nevada in the 1st quarter worth about $320,000. Advisory Services Network LLC increased its holdings in Franco Nevada by 20.6% in the 1st quarter. Advisory Services Network LLC now owns 879 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 150 shares in the last quarter. Nordea Investment Management AB increased its holdings in Franco Nevada by 37.6% in the 1st quarter. Nordea Investment Management AB now owns 14,874 shares of the basic materials company’s stock worth $1,490,000 after purchasing an additional 4,064 shares in the last quarter. FMR LLC increased its holdings in Franco Nevada by 10.1% in the 1st quarter. FMR LLC now owns 13,330,986 shares of the basic materials company’s stock worth $999,462,000 after purchasing an additional 1,222,750 shares in the last quarter. Finally, Ashford Capital Management Inc. increased its holdings in Franco Nevada by 13.7% in the 1st quarter. Ashford Capital Management Inc. now owns 143,928 shares of the basic materials company’s stock worth $10,802,000 after purchasing an additional 17,328 shares in the last quarter. 65.58% of the stock is owned by institutional investors.
NYSE FNV traded up $0.04 during midday trading on Monday, hitting $73.54. The company had a trading volume of 445,244 shares, compared to its average volume of 537,897. The stock has a market capitalization of $13.78 billion, a PE ratio of 62.85, a P/E/G ratio of 14.62 and a beta of 0.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.14 and a quick ratio of 4.14. Franco Nevada has a twelve month low of $58.26 and a twelve month high of $78.82.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Franco Nevada’s previous quarterly dividend of $0.24. Franco Nevada’s payout ratio is 82.05%.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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