FY2024 EPS Estimate for Franco-Nevada Lowered by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at National Bank Financial decreased their FY2024 earnings estimates for Franco-Nevada in a report released on Thursday, November 7th. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings per share of $3.27 for the year, down from their previous forecast of $3.36. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.25 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.27 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.63%. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter last year, the company posted $0.91 earnings per share. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year.

A number of other research analysts also recently commented on the company. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. HC Wainwright upped their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.57.

Franco-Nevada Price Performance

NYSE:FNV opened at $117.83 on Monday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60. The stock has a market cap of $22.68 billion, a P/E ratio of -37.29, a PEG ratio of 20.59 and a beta of 0.75. The firm has a 50-day moving average of $126.57 and a two-hundred day moving average of $124.18.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors and hedge funds have recently bought and sold shares of FNV. America First Investment Advisors LLC grew its holdings in shares of Franco-Nevada by 4.3% during the third quarter. America First Investment Advisors LLC now owns 161,765 shares of the basic materials company’s stock valued at $20,099,000 after purchasing an additional 6,717 shares during the last quarter. Beddow Capital Management Inc. boosted its position in Franco-Nevada by 1.4% during the 3rd quarter. Beddow Capital Management Inc. now owns 57,882 shares of the basic materials company’s stock valued at $7,192,000 after purchasing an additional 790 shares during the period. Drive Wealth Management LLC grew its stake in Franco-Nevada by 11.9% during the 3rd quarter. Drive Wealth Management LLC now owns 3,355 shares of the basic materials company’s stock worth $417,000 after buying an additional 356 shares during the last quarter. Swiss National Bank grew its stake in Franco-Nevada by 0.8% during the 3rd quarter. Swiss National Bank now owns 581,560 shares of the basic materials company’s stock worth $72,347,000 after buying an additional 4,900 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Franco-Nevada by 6.5% in the third quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company’s stock worth $2,535,000 after buying an additional 1,237 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is presently -45.57%.

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.