FY2017 EPS Estimates for Franco Nevada Corp (FNV) Lowered by Desjardins
Franco Nevada Corp (TSE:FNV) (NYSE:FNV) – Equities research analysts at Desjardins reduced their FY2017 earnings per share (EPS) estimates for Franco Nevada in a report issued on Friday. Desjardins analyst J. Wolfson now forecasts that the company will post earnings of $1.40 per share for the year, down from their prior forecast of $1.41. Desjardins currently has a “Sell” rating on the stock. Desjardins also issued estimates for Franco Nevada’s Q4 2017 earnings at $0.40 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.38 EPS, FY2018 earnings at $1.39 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.40 EPS and FY2019 earnings at $1.49 EPS.
A number of other brokerages have also issued reports on FNV. Eight Capital reissued a “neutral” rating on shares of Franco Nevada in a report on Thursday, November 16th. TD Securities increased their price objective on Franco Nevada to C$123.50 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Scotiabank increased their price objective on Franco Nevada to C$108.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. National Bank Financial increased their price objective on Franco Nevada from C$100.00 to C$107.50 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. Finally, CIBC increased their price objective on Franco Nevada from C$110.00 to C$120.00 in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$115.21.
Franco Nevada (TSE:FNV) (NYSE:FNV) last issued its quarterly earnings data on Monday, November 6th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.04. Franco Nevada had a return on equity of 5.21% and a net margin of 34.99%.
In other news, insider Lloyd Hyunsoo Hong sold 4,000 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of C$96.81, for a total transaction of C$387,240.00. Also, Director Pierre Lassonde sold 20,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of C$97.96, for a total value of C$1,959,200.00. Insiders sold 29,000 shares of company stock valued at $2,843,090 over the last 90 days.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th were given a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.21%. This is an increase from Franco Nevada’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, December 6th. Franco Nevada’s dividend payout ratio is 90.00%.
Franco Nevada Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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