Analysts Set Expectations for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) – Stock analysts at National Bank Financial dropped their FY2024 earnings estimates for shares of Franco-Nevada in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $4.64 per share for the year, down from their prior forecast of $4.71. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.11 per share.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C$1.03 EPS for the quarter, missing analysts’ consensus estimates of C$1.07 by C($0.04). The company had revenue of C$355.88 million for the quarter. Franco-Nevada had a negative net margin of 51.92% and a negative return on equity of 9.32%.

FNV has been the topic of a number of other research reports. Canaccord Genuity Group boosted their price target on shares of Franco-Nevada from C$177.00 to C$190.00 in a report on Tuesday, July 23rd. CIBC boosted their price objective on shares of Franco-Nevada from C$250.00 to C$265.00 in a research report on Wednesday, July 10th. National Bankshares lowered their price target on shares of Franco-Nevada from C$200.00 to C$195.00 in a report on Thursday, August 15th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets raised their price target on Franco-Nevada from C$200.00 to C$210.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average price target of C$192.80.

Franco-Nevada Price Performance

The company has a debt-to-equity ratio of 1.63, a current ratio of 29.11 and a quick ratio of 23.26. Franco-Nevada has a 1 year low of C$139.19 and a 1 year high of C$190.74. The firm has a market cap of C$36.27 billion, a price-to-earnings ratio of -45.05, a price-to-earnings-growth ratio of 5.00 and a beta of 0.68. The company has a fifty day moving average of C$169.34 and a two-hundred day moving average of C$168.20.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a $0.497 dividend. This represents a $1.99 dividend on an annualized basis and a dividend yield of ∞. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s payout ratio is presently -46.30%.

Insiders Place Their Bets

In other Franco-Nevada news, Director Nicholas Hugo Housby Dryland bought 805 shares of the stock in a transaction on Monday, September 16th. The shares were purchased at an average price of C$168.95 per share, with a total value of C$136,001.53. Following the acquisition, the director now directly owns 805 shares of the company’s stock, valued at C$136,001.53. Company insiders own 0.69% of the company’s stock.

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.