Franco-Nevada (NYSE:FNV) Issues Quarterly Earnings Results

Key Points

• Franco-Nevada reported a quarterly earnings per share (EPS) of $1.24, exceeding analysts' expectations of $1.10.
• The company announced a quarterly dividend of $0.38, which translates to an annualized dividend of $1.52 and a yield of 0.9%.
• Brokerages have recently raised price targets for Franco-Nevada, with a consensus target price now at $172.13 and several analysts giving the stock a "Moderate Buy" rating.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV announced its quarterly earnings results on Monday. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.14, Zacks reports. The company had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. Franco-Nevada's revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS.

Franco-Nevada Stock Down 1.0%

Franco-Nevada stock traded down $1.86 during midday trading on Thursday, reaching $177.28. The stock had a trading volume of 663,778 shares, compared to its average volume of 836,152. Franco-Nevada has a 52-week low of $112.70 and a 52-week high of $180.98. The firm has a market cap of $34.15 billion, a price-to-earnings ratio of 43.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.36. The company has a fifty day moving average of $164.72 and a 200 day moving average of $158.18.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio is presently 37.35%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quantinno Capital Management LP boosted its position in Franco-Nevada by 2.7% in the 2nd quarter. Quantinno Capital Management LP now owns 27,236 shares of the basic materials company's stock valued at $4,465,000 after buying an additional 721 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Franco-Nevada in the 2nd quarter valued at about $481,000. Squarepoint Ops LLC boosted its position in Franco-Nevada by 72.8% in the 2nd quarter. Squarepoint Ops LLC now owns 22,382 shares of the basic materials company's stock valued at $3,669,000 after buying an additional 9,433 shares during the period. Sei Investments Co. purchased a new stake in Franco-Nevada in the 2nd quarter valued at about $606,000. Finally, Nebula Research & Development LLC purchased a new stake in Franco-Nevada in the 2nd quarter valued at about $236,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

FNV has been the topic of a number of research reports. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Raymond James Financial lifted their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a report on Tuesday. UBS Group lifted their price target on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Finally, Scotiabank lifted their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $178.88.

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.