National Bank Financial Weighs in on Franco Nevada Corp’s FY2018 Earnings (FNV)
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) – Equities research analysts at National Bank Financial reduced their FY2018 earnings estimates for shares of Franco Nevada in a research report issued on Wednesday. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will earn $1.08 per share for the year, down from their prior forecast of $1.20. National Bank Financial also issued estimates for Franco Nevada’s FY2019 earnings at $1.26 EPS and FY2020 earnings at $1.33 EPS.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, March 7th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $167.00 million during the quarter, compared to the consensus estimate of $171.99 million. Franco Nevada had a net margin of 28.84% and a return on equity of 4.38%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS.
Shares of Franco Nevada (NYSE:FNV) traded down $0.25 during trading hours on Monday, reaching $68.84. 176,709 shares of the company traded hands, compared to its average volume of 672,261. The stock has a market capitalization of $12,890.00, a PE ratio of 65.40, a P/E/G ratio of 14.38 and a beta of -0.02. Franco Nevada has a 12 month low of $60.83 and a 12 month high of $86.06.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 1.34%. Franco Nevada’s dividend payout ratio is presently 86.79%.
A number of hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc grew its stake in Franco Nevada by 6.1% in the 3rd quarter. CIBC Asset Management Inc now owns 2,087,452 shares of the basic materials company’s stock worth $161,281,000 after buying an additional 120,925 shares in the last quarter. Renaissance Technologies LLC grew its stake in Franco Nevada by 41.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,823,500 shares of the basic materials company’s stock worth $145,828,000 after buying an additional 530,300 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Franco Nevada by 66.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,766,334 shares of the basic materials company’s stock worth $141,219,000 after buying an additional 704,843 shares in the last quarter. Swiss National Bank grew its stake in Franco Nevada by 4.0% in the 4th quarter. Swiss National Bank now owns 1,692,600 shares of the basic materials company’s stock worth $135,381,000 after buying an additional 64,900 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake in Franco Nevada by 5.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 1,503,223 shares of the basic materials company’s stock worth $120,156,000 after buying an additional 75,225 shares in the last quarter. 63.37% of the stock is owned by institutional investors and hedge funds.
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About Franco Nevada
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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