Franco-Nevada Co. Forecasted to Post Q2 2024 Earnings of $0.84 Per Share (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV - Stock analysts at Raymond James lifted their Q2 2024 earnings per share (EPS) estimates for Franco-Nevada in a report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.84 per share for the quarter, up from their prior estimate of $0.71. Raymond James currently has a "Outperform" rating and a $141.00 target price on the stock. The consensus estimate for Franco-Nevada's current full-year earnings is $2.90 per share. Raymond James also issued estimates for Franco-Nevada's Q3 2024 earnings at $0.81 EPS and Q4 2024 earnings at $0.81 EPS.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a "hold" rating in a report on Monday. TheStreet lowered shares of Franco-Nevada from a "c+" rating to a "d+" rating in a research report on Tuesday, March 5th. Bank of America decreased their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a "buy" rating on the stock in a research report on Monday, March 18th. Finally, Scotiabank lifted their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $148.60.

Franco-Nevada Trading Up 2.2 %

NYSE:FNV traded up $2.60 during midday trading on Thursday, hitting $121.61. 629,141 shares of the stock were exchanged, compared to its average volume of 735,067. Franco-Nevada has a one year low of $102.29 and a one year high of $161.25. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of -49.29, a P/E/G ratio of 6.22 and a beta of 0.71. The business has a 50-day moving average price of $114.80 and a two-hundred day moving average price of $115.83.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The company had revenue of $303.30 million for the quarter.

Hedge Funds Weigh In On Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of FNV. VisionPoint Advisory Group LLC purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at $30,000. Castleview Partners LLC acquired a new position in Franco-Nevada in the third quarter worth about $33,000. Creative Financial Designs Inc. ADV acquired a new position in Franco-Nevada in the fourth quarter worth about $34,000. Allworth Financial LP raised its position in Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company's stock worth $39,000 after purchasing an additional 345 shares in the last quarter. Finally, Fortis Group Advisors LLC increased its holdings in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company's stock worth $39,000 after buying an additional 176 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.18%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. Franco-Nevada's payout ratio is presently -55.97%.

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.