Q4 2023 Earnings Forecast for Franco-Nevada Co. Issued By National Bank Financial (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) – Analysts at National Bank Financial lowered their Q4 2023 earnings estimates for shares of Franco-Nevada in a report released on Monday, February 5th. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.89. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.54 per share. National Bank Financial also issued estimates for Franco-Nevada’s FY2024 earnings at $3.00 EPS.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $309.50 million for the quarter, compared to analyst estimates of $317.93 million. Franco-Nevada had a net margin of 55.10% and a return on equity of 10.23%. Franco-Nevada’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Franco-Nevada from $155.00 to $140.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 1st. TD Securities reduced their target price on shares of Franco-Nevada from $135.00 to $125.00 and set a “hold” rating on the stock in a report on Thursday, November 30th. Raymond James reduced their target price on shares of Franco-Nevada from $148.00 to $141.00 and set an “outperform” rating on the stock in a report on Tuesday, December 12th. BMO Capital Markets reduced their target price on shares of Franco-Nevada from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Tuesday, November 21st. Finally, Scotiabank reduced their target price on shares of Franco-Nevada from $159.00 to $141.00 and set a “sector perform” rating on the stock in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $152.75.

Read Our Latest Stock Report on FNV

Franco-Nevada Stock Up 0.9 %

Shares of FNV opened at $107.86 on Wednesday. The firm has a market cap of $20.73 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 4.92 and a beta of 0.71. The company’s fifty day moving average is $109.22 and its two-hundred day moving average is $125.64. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $161.25.

Institutional Trading of Franco-Nevada

Institutional investors have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC bought a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $30,000. Castleview Partners LLC bought a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $33,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $34,000. State of Wyoming bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $38,000. Finally, Allworth Financial LP raised its holdings in shares of Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 345 shares in the last quarter. 66.70% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be paid a $0.36 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is currently 38.42%.

About Franco-Nevada

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Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, 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.

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Earnings History and Estimates for Franco-Nevada (NYSE:FNV)

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