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

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

Franco-Nevada has raised its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend every year for the last 11 years. Franco-Nevada has a 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 FNV stock traded up $2.33 on Friday, hitting $123.24. 683,801 shares of the stock traded hands, compared to its average volume of 732,084. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of -48.59, a PEG ratio of 6.22 and a beta of 0.72. The firm has a 50 day simple moving average of $116.43 and a two-hundred day simple moving average of $115.38. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on FNV. Jefferies Financial Group upped their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Scotiabank raised 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. Raymond James boosted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Bank of America lowered their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Hold” and an average price target of $148.60.

Franco-Nevada Company Profile

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.