Franco-Nevada Co. (NYSE:FNV) Announces Quarterly Dividend of $0.36

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Thursday, June 13th will be paid a dividend of 0.36 per share by the basic materials company on Thursday, June 27th. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, June 13th.

Franco-Nevada has increased its dividend payment by an average of 12.8% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Franco-Nevada has a dividend payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Franco-Nevada to earn $3.29 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 43.8%.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded up $2.33 on Friday, reaching $123.24. The company’s stock had a trading volume of 683,801 shares, compared to its average volume of 732,084. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25. The stock’s 50-day moving average is $116.43 and its two-hundred day moving average is $115.38. The stock has a market capitalization of $23.70 billion, a P/E ratio of -48.59, a PEG ratio of 6.22 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.57% and a negative net margin of 39.88%. The firm had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. Equities analysts forecast that Franco-Nevada will post 2.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Raymond James boosted their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Scotiabank increased their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. Bank of America lowered their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, Jefferies Financial Group increased their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of “Hold” and a consensus target price of $148.60.

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.