Franco-Nevada Co. (NYSE:FNV) Announces Quarterly Dividend of $0.36

by · The Markets Daily

Franco-Nevada Co. (NYSE:FNV – Get Free Report) (TSE:FNV) declared a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Thursday, December 5th will be paid a dividend of 0.36 per share by the basic materials company on Thursday, December 19th. This represents a $1.44 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, December 5th.

Franco-Nevada has increased its dividend payment by an average of 9.7% per year over the last three years. Franco-Nevada has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Franco-Nevada to earn $3.83 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 37.6%.

Franco-Nevada Trading Down 4.4 %

FNV traded down $5.81 on Thursday, hitting $126.37. The company had a trading volume of 1,226,784 shares, compared to its average volume of 654,886. The company’s fifty day moving average price is $126.57 and its 200 day moving average price is $124.09. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The firm has a market cap of $24.32 billion, a P/E ratio of -43.48, a PEG ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was down 10.9% on a year-over-year basis. On average, analysts predict that Franco-Nevada will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

Check Out Our Latest Analysis on Franco-Nevada

About Franco-Nevada

(Get Free Report)

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.

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