Franco-Nevada Corp. to Post Q3 2016 Earnings of $0.23 Per Share, National Bank Financial Forecasts (FNV)
Franco-Nevada Corp. (NYSE:FNV) – Equities research analysts at National Bank Financial reduced their Q3 2016 earnings estimates for Franco-Nevada Corp. in a research note issued to investors on Wednesday. National Bank Financial analyst S. Nagle now expects that the firm will post earnings of $0.23 per share for the quarter, down from their prior forecast of $0.24. National Bank Financial currently has a “Sector Perform” rating and a $95.00 target price on the stock.
A number of other analysts have also issued reports on the company. Bank of America Corp. started coverage on Franco-Nevada Corp. in a research note on Tuesday, August 9th. They set a “buy” rating on the stock. HSBC reiterated a “buy” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Vetr upgraded Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price objective on the stock in a research note on Wednesday, June 22nd. Deutsche Bank AG reiterated a “sell” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Finally, Zacks Investment Research upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Franco-Nevada Corp. currently has a consensus rating of “Hold” and an average target price of $70.96.
Franco-Nevada Corp. (NYSE:FNV) opened at 64.67 on Monday. Franco-Nevada Corp. has a 1-year low of $41.47 and a 1-year high of $81.16. The company has a 50 day moving average price of $69.55 and a 200-day moving average price of $70.72. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 191.33 and a beta of 0.18.
Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The firm had revenue of $150.90 million for the quarter, compared to analyst estimates of $149.36 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.36%. Franco-Nevada Corp.’s dividend payout ratio (DPR) is presently 275.00%.
Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock valued at $100,000 after buying an additional 175 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock valued at $211,000 after buying an additional 1,100 shares in the last quarter. Seven Eight Capital LLC bought a new stake in shares of Franco-Nevada Corp. during the second quarter valued at $221,000. Carnick & Kubik Group LLC bought a new stake in shares of Franco-Nevada Corp. during the second quarter valued at $230,000. Finally, Stock Yards Bank & Trust Co. bought a new stake in shares of Franco-Nevada Corp. during the third quarter valued at $223,000. Hedge funds and other institutional investors own 64.49% of the company’s stock.
Franco-Nevada Corp. Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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