National Bank Financial Brokers Decrease Earnings Estimates for Franco-Nevada Corp. (FNV)
Franco-Nevada Corp. (NYSE:FNV) – Investment analysts at National Bank Financial cut their FY2016 earnings per share (EPS) estimates for shares of Franco-Nevada Corp. in a research note issued on Wednesday. National Bank Financial analyst S. Nagle now forecasts that the firm will post earnings per share of $0.83 for the year, down from their previous forecast of $0.88. National Bank Financial has a “Sector Perform” rating on the stock. National Bank Financial also issued estimates for Franco-Nevada Corp.’s FY2017 earnings at $1.08 EPS.
Several other analysts have also weighed in on the stock. Bank of America Corp. initiated coverage on shares of Franco-Nevada Corp. in a research report on Tuesday, August 9th. They set a “buy” rating on the stock. HSBC reiterated a “buy” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Vetr raised shares of Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price target for the company in a report on Wednesday, June 22nd. Deutsche Bank AG reissued a “sell” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Finally, Zacks Investment Research raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) opened at 63.33 on Friday. The company has a market capitalization of $11.28 billion, a PE ratio of 187.37 and a beta of 0.18. Franco-Nevada Corp. has a one year low of $41.47 and a one year high of $81.16. The company’s 50-day moving average is $69.77 and its 200-day moving average is $70.59.
Franco-Nevada Corp. (NYSE:FNV) last issued its earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The firm earned $150.90 million during the quarter, compared to analysts’ expectations of $149.36 million. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share.
Several large investors have recently bought and sold shares of the company. IFP Advisors Inc increased its stake in Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock worth $100,000 after buying an additional 175 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock worth $211,000 after buying an additional 1,100 shares in the last quarter. Seven Eight Capital LLC purchased a new position in shares of Franco-Nevada Corp. during the second quarter worth about $221,000. Carnick & Kubik Group LLC purchased a new position in shares of Franco-Nevada Corp. during the second quarter worth about $230,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of Franco-Nevada Corp. during the third quarter worth about $223,000. 64.49% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Tuesday, September 13th. Franco-Nevada Corp.’s dividend payout ratio (DPR) is 275.00%.
Franco-Nevada Corp. Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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