Franco-Nevada (NYSE:FNV) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) released its earnings results on Wednesday. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03), Briefing.com reports. The business had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share.

Franco-Nevada Stock Down 3.1 %

NYSE FNV traded down $3.97 on Friday, reaching $122.44. The company had a trading volume of 877,398 shares, compared to its average volume of 630,356. The firm has a 50-day moving average of $126.66 and a 200-day moving average of $124.13. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Franco-Nevada’s payout ratio is currently -45.57%.

Analyst Ratings Changes

FNV has been the topic of several research analyst reports. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, Scotiabank dropped their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.57.

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.