Raymond James Equities Analysts Raise Earnings Estimates for Franco-Nevada Co. (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Raymond James raised their Q3 2024 earnings per share (EPS) estimates for shares of Franco-Nevada in a note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.89 for the quarter, up from their prior forecast of $0.84. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.23 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.31 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.00 EPS and FY2025 earnings at $3.71 EPS.

Several other research firms also recently commented on FNV. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group boosted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Price Performance

NYSE FNV opened at $125.52 on Thursday. The stock’s 50 day simple moving average is $123.54 and its 200-day simple moving average is $121.97. The company has a market cap of $24.15 billion, a PE ratio of -50.41, a price-to-earnings-growth ratio of 21.28 and a beta of 0.76. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $142.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis.

Institutional Trading of Franco-Nevada

Several institutional investors have recently made changes to their positions in FNV. Mechanics Financial Corp lifted its position in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $33,000. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter worth approximately $36,000. Fortis Group Advisors LLC increased its holdings in Franco-Nevada by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. Franco-Nevada’s dividend payout ratio is currently -57.83%.

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.