Franco-Nevada Co. to Issue Quarterly Dividend of $0.36 (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Thursday, June 13th will be given a dividend of 0.36 per share by the basic materials company on Thursday, June 27th. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, June 13th.

Franco-Nevada has raised its dividend by an average of 12.8% per year over the last three years and has raised its dividend every year for the last 11 years. Franco-Nevada has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Franco-Nevada to earn $3.29 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 43.8%.

Franco-Nevada Stock Performance

Shares of FNV traded up $2.33 during trading hours on Friday, hitting $123.24. 683,801 shares of the company were exchanged, compared to its average volume of 732,084. The company has a market cap of $23.70 billion, a PE ratio of -48.59, a PEG ratio of 6.22 and a beta of 0.72. The firm’s 50 day moving average is $116.43 and its 200-day moving average is $115.38. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a positive return on equity of 10.57% and a negative net margin of 39.88%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS. As a group, equities analysts forecast that Franco-Nevada will post 2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FNV shares. Jefferies Financial Group increased their target price on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Bank of America decreased their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Scotiabank increased their target price on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Finally, Raymond James increased their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $148.60.

Franco-Nevada Company Profile

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.