Franco-Nevada Co. (FNV) To Go Ex-Dividend on June 13th

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Thursday, June 13th will be paid a dividend of 0.36 per share by the basic materials company on Thursday, June 27th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, June 13th.

Franco-Nevada has increased its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Franco-Nevada has a payout ratio of 37.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Franco-Nevada to earn $3.29 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 43.8%.

Franco-Nevada Price Performance

Shares of FNV stock traded up $2.33 during trading hours on Friday, reaching $123.24. The company had a trading volume of 683,801 shares, compared to its average volume of 732,084. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of -48.59, a P/E/G ratio of 6.22 and a beta of 0.72. The company has a 50 day moving average of $116.43 and a 200 day moving average of $115.38.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The firm had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.57% and a negative net margin of 39.88%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, sell-side analysts forecast that Franco-Nevada will post 2.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FNV. Scotiabank upped their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Bank of America dropped their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Jefferies Financial Group boosted their target price on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Finally, Raymond James lifted their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $148.60.

About Franco-Nevada

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.