Franco-Nevada Co. (FNV) to Issue Quarterly Dividend of $0.36 on December 19th

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Thursday, December 5th will be paid a dividend of 0.36 per share by the basic materials company on Thursday, December 19th. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, December 5th.

Franco-Nevada has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Franco-Nevada to earn $3.91 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 36.8%.

Franco-Nevada Stock Performance

FNV stock opened at $121.37 on Tuesday. The firm has a market cap of $23.36 billion, a P/E ratio of -38.41 and a beta of 0.72. The stock has a 50-day simple moving average of $125.67 and a 200-day simple moving average of $123.67. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the previous year, the business posted $0.91 EPS. Franco-Nevada’s revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts predict that Franco-Nevada will post 3.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FNV shares. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group cut their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. HC Wainwright increased their price target on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price target for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.83.

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.