Research Analysts Offer Predictions for Franco-Nevada Co.’s FY2023 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) – Equities research analysts at National Bank Financial cut their FY2023 earnings per share estimates for shares of Franco-Nevada in a report released on Monday, February 5th. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will earn $3.46 per share for the year, down from their prior estimate of $3.59. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.51 per share.

A number of other brokerages have also commented on FNV. Royal Bank of Canada decreased their price objective on Franco-Nevada from $155.00 to $140.00 and set a “sector perform” rating for the company in a report on Wednesday, November 1st. Scotiabank decreased their price objective on Franco-Nevada from $159.00 to $141.00 and set a “sector perform” rating for the company in a report on Thursday, December 14th. TD Securities decreased their price objective on Franco-Nevada from $135.00 to $125.00 and set a “hold” rating for the company in a report on Thursday, November 30th. BMO Capital Markets reduced their target price on Franco-Nevada from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Tuesday, November 21st. Finally, Raymond James reduced their target price on Franco-Nevada from $148.00 to $141.00 and set an “outperform” rating for the company in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Franco-Nevada has an average rating of “Hold” and a consensus price target of $152.75.

View Our Latest Stock Report on FNV

Franco-Nevada Stock Performance

Shares of FNV opened at $108.85 on Thursday. The stock has a 50 day moving average price of $109.06 and a two-hundred day moving average price of $125.26. The firm has a market capitalization of $20.92 billion, a P/E ratio of 30.75, a P/E/G ratio of 5.16 and a beta of 0.71. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $309.50 million during the quarter, compared to analyst estimates of $317.93 million. Franco-Nevada had a return on equity of 10.23% and a net margin of 55.10%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors have recently made changes to their positions in FNV. Sigma Planning Corp purchased a new stake in shares of Franco-Nevada in the second quarter worth $337,000. TD Asset Management Inc raised its position in shares of Franco-Nevada by 0.4% in the third quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock worth $299,425,000 after buying an additional 9,482 shares in the last quarter. LPL Financial LLC raised its position in shares of Franco-Nevada by 10.9% in the second quarter. LPL Financial LLC now owns 45,588 shares of the basic materials company’s stock worth $6,501,000 after buying an additional 4,494 shares in the last quarter. Annex Advisory Services LLC raised its position in shares of Franco-Nevada by 14.1% in the third quarter. Annex Advisory Services LLC now owns 100,899 shares of the basic materials company’s stock worth $13,469,000 after buying an additional 12,481 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Franco-Nevada by 5.6% in the third quarter. National Bank of Canada FI now owns 1,404,779 shares of the basic materials company’s stock worth $182,852,000 after buying an additional 74,369 shares in the last quarter. Hedge funds and other institutional investors own 66.70% of the company’s stock.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.32%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio is currently 38.42%.

About Franco-Nevada

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Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, 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.

Further Reading

Earnings History and Estimates for Franco-Nevada (NYSE:FNV)

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