Raymond James Analysts Raise Earnings Estimates for Franco-Nevada Co. (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Raymond James increased their Q1 2022 earnings per share (EPS) estimates for Franco-Nevada in a note issued to investors on Wednesday, October 13th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.88 for the quarter, up from their previous forecast of $0.85. Raymond James has a “Outperform” rating and a $164.00 price objective on the stock. Raymond James also issued estimates for Franco-Nevada’s Q4 2022 earnings at $0.88 EPS and FY2022 earnings at $3.51 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, August 11th. The basic materials company reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. The business had revenue of $347.10 million for the quarter, compared to analyst estimates of $362.19 million. Franco-Nevada had a return on equity of 11.94% and a net margin of 54.62%.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Franco-Nevada from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 13th. Canaccord Genuity lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Friday, July 16th. Stifel Nicolaus boosted their target price on Franco-Nevada from C$189.00 to C$195.00 and gave the company a “hold” rating in a research note on Wednesday, July 14th. National Bank Financial upped their price target on Franco-Nevada from C$200.00 to C$205.00 and gave the company a “sector perform” rating in a research report on Friday, July 16th. Finally, Barclays lowered Franco-Nevada from an “equal weight” rating to an “underweight” rating and set a $107.00 price target for the company. in a research report on Thursday, July 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $176.31.

Shares of FNV opened at $136.55 on Thursday. The firm has a market cap of $26.10 billion, a PE ratio of 38.46, a PEG ratio of 10.04 and a beta of 0.58. The stock’s fifty day moving average price is $141.63 and its two-hundred day moving average price is $144.29. Franco-Nevada has a 1 year low of $105.62 and a 1 year high of $163.79.

Several institutional investors have recently bought and sold shares of FNV. Jarislowsky Fraser Ltd grew its stake in shares of Franco-Nevada by 134.9% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 2,703,847 shares of the basic materials company’s stock worth $392,792,000 after buying an additional 1,552,784 shares during the last quarter. FIL Ltd boosted its stake in Franco-Nevada by 25.6% during the 1st quarter. FIL Ltd now owns 6,826,131 shares of the basic materials company’s stock valued at $855,384,000 after purchasing an additional 1,389,449 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Franco-Nevada by 21.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,960,783 shares of the basic materials company’s stock valued at $997,406,000 after purchasing an additional 1,383,808 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Franco-Nevada by 20.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,401,881 shares of the basic materials company’s stock valued at $676,884,000 after purchasing an additional 926,261 shares during the last quarter. Finally, Amundi purchased a new stake in Franco-Nevada during the 2nd quarter valued at $125,069,000. Institutional investors own 68.15% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.88%. Franco-Nevada’s payout ratio is currently 44.28%.

Franco-Nevada Company Profile

Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.

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Earnings History and Estimates for Franco-Nevada (NYSE:FNV)

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