FY2024 EPS Forecast for Franco-Nevada Lowered by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Stifel Canada reduced their FY2024 earnings per share estimates for shares of Franco-Nevada in a research note issued on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the basic materials company will post earnings per share of $2.85 for the year, down from their previous estimate of $3.46. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.19 per share. Stifel Canada also issued estimates for Franco-Nevada’s FY2025 earnings at $4.08 EPS and FY2026 earnings at $4.06 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS.

Several other equities analysts have also recently issued reports on FNV. HC Wainwright reiterated a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank lowered their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Jefferies Financial Group decreased their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $141.72 on Friday. The firm has a fifty day simple moving average of $124.78 and a two-hundred day simple moving average of $124.61. Franco-Nevada has a 12 month low of $103.64 and a 12 month high of $142.32.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its position in Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after buying an additional 424,810 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares in the last quarter. M&G PLC raised its holdings in Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after acquiring an additional 51,996 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Franco-Nevada by 2.2% in the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock worth $171,513,000 after acquiring an additional 29,512 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.