Q3 2018 Earnings Estimate for Franco Nevada Corp (FNV) Issued By Desjardins
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) – Research analysts at Desjardins dropped their Q3 2018 earnings per share (EPS) estimates for shares of Franco Nevada in a report issued on Friday, October 12th. Desjardins analyst J. Wolfson now expects that the basic materials company will earn $0.27 per share for the quarter, down from their previous forecast of $0.33. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Franco Nevada’s FY2018 earnings at $1.19 EPS.
A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Franco Nevada from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. Barclays began coverage on shares of Franco Nevada in a report on Wednesday, October 10th. They issued an “overweight” rating and a $70.00 price target for the company. Deutsche Bank set a $74.00 price target on shares of Franco Nevada and gave the company a “hold” rating in a report on Tuesday, October 2nd. ValuEngine raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Franco Nevada in a report on Monday, September 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $88.89.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. The firm had revenue of $161.30 million during the quarter, compared to analyst estimates of $169.46 million. Franco Nevada had a return on equity of 4.80% and a net margin of 32.94%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share.
Several large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in Franco Nevada by 128.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 900 shares during the last quarter. Tuttle Tactical Management bought a new stake in Franco Nevada in the second quarter worth about $111,000. Cerebellum GP LLC lifted its stake in Franco Nevada by 2,358.0% in the second quarter. Cerebellum GP LLC now owns 2,458 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 2,358 shares during the last quarter. Verition Fund Management LLC bought a new stake in Franco Nevada in the first quarter worth about $201,000. Finally, Janney Montgomery Scott LLC bought a new stake in Franco Nevada in the second quarter worth about $218,000. 63.46% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Thursday, September 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, September 12th. Franco Nevada’s payout ratio is 88.89%.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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