Franco-Nevada Co. Forecasted to Earn Q2 2024 Earnings of $0.84 Per Share (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Analysts at Raymond James upped their Q2 2024 earnings per share (EPS) estimates for shares of Franco-Nevada in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.84 per share for the quarter, up from their previous estimate of $0.71. Raymond James has a “Outperform” rating and a $141.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.90 per share. Raymond James also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.81 EPS and Q4 2024 earnings at $0.81 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%.

Other analysts have also recently issued reports about the company. Jefferies Financial Group upped their target price on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Scotiabank increased their price target on Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. Finally, Bank of America lowered their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Stock Up 2.2 %

Shares of NYSE:FNV opened at $121.61 on Thursday. The business has a fifty day moving average of $114.80 and a two-hundred day moving average of $115.83. The stock has a market cap of $23.39 billion, a P/E ratio of -49.29, a PEG ratio of 6.22 and a beta of 0.71. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fortune Financial Advisors LLC raised its position in shares of Franco-Nevada by 1.8% during the 3rd quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company’s stock worth $598,000 after acquiring an additional 81 shares in the last quarter. Wahed Invest LLC raised its position in shares of Franco-Nevada by 7.7% during the 3rd quarter. Wahed Invest LLC now owns 1,377 shares of the basic materials company’s stock worth $185,000 after acquiring an additional 99 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC grew its stake in Franco-Nevada by 6.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,770 shares of the basic materials company’s stock worth $236,000 after buying an additional 104 shares during the last quarter. Capital Asset Advisory Services LLC grew its stake in Franco-Nevada by 0.4% during the 4th quarter. Capital Asset Advisory Services LLC now owns 29,408 shares of the basic materials company’s stock worth $3,259,000 after buying an additional 109 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Franco-Nevada by 0.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 29,408 shares of the basic materials company’s stock worth $3,259,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

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.