Brokers Set Expectations for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Stock analysts at Stifel Canada reduced their FY2024 earnings estimates for Franco-Nevada in a research note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now expects that the basic materials company will earn $2.85 per share for the year, down from their prior 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 issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter last year, the business posted $0.91 EPS. The company’s quarterly revenue was down 10.9% on a year-over-year basis.

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

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $141.72 on Friday. The stock’s 50-day simple moving average is $124.78 and its two-hundred day simple moving average is $124.61. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $142.32.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.07%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada during the 4th quarter valued at about $47,000. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada during the third quarter valued at approximately $52,000. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada in the third quarter worth approximately $55,000. SBI Securities Co. Ltd. bought a new position in shares of Franco-Nevada in the fourth quarter worth approximately $73,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Franco-Nevada by 25.6% in the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock worth $73,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.