Desjardins Equities Analysts Increase Earnings Estimates for Franco Nevada Corp (FNV)
Franco Nevada Corp (TSE:FNV) (NYSE:FNV) – Stock analysts at Desjardins boosted their Q1 2019 earnings per share (EPS) estimates for shares of Franco Nevada in a report released on Monday, January 7th. Desjardins analyst J. Wolfson now expects that the company will post earnings per share of $0.33 for the quarter, up from their prior forecast of $0.29. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Franco Nevada’s Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $1.58 EPS.
Other equities research analysts also recently issued reports about the company. Royal Bank of Canada increased their price target on Franco Nevada from C$115.00 to C$118.00 in a report on Thursday, December 13th. Canaccord Genuity reduced their price target on Franco Nevada from C$120.00 to C$119.00 in a report on Thursday, October 18th. JPMorgan Chase & Co. reduced their price target on Franco Nevada from C$103.50 to C$97.50 in a report on Tuesday, October 9th. Finally, CSFB reiterated a “neutral” rating on shares of Franco Nevada in a report on Wednesday, September 26th.
Franco Nevada (TSE:FNV) (NYSE:FNV) last posted its quarterly earnings data on Monday, November 5th. The company reported C$0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.34 by C$0.04. The company had revenue of C$222.96 million during the quarter, compared to the consensus estimate of C$212.19 million.
In other Franco Nevada news, Director David Harquail sold 24,300 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of C$89.01, for a total transaction of C$2,162,943.00. Also, insider Sandip Rana sold 6,473 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of C$95.55, for a total value of C$618,495.15. Over the last quarter, insiders sold 42,273 shares of company stock worth $3,874,628.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th were issued a $0.316 dividend. This represents a $1.26 annualized dividend and a dividend yield of 1.35%. This is an increase from Franco Nevada’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, December 5th. Franco Nevada’s dividend payout ratio is presently 82.38%.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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