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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors 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 yield of 1.17%. The ex-dividend date is Thursday, June 13th.

Franco-Nevada has raised its dividend by an average of 12.8% per year 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. 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 Trading Up 1.9 %

FNV traded up $2.33 during midday trading on Friday, hitting $123.24. 683,801 shares of the company were exchanged, compared to its average volume of 732,084. The company’s 50 day simple moving average is $116.43 and its 200 day simple moving average is $115.38. The firm has a market capitalization of $23.70 billion, a price-to-earnings ratio of -48.59, a price-to-earnings-growth ratio of 6.22 and a beta of 0.72. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the company earned $0.79 earnings per share. Franco-Nevada’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Franco-Nevada will post 2.97 EPS for the current year.

Analyst Ratings Changes

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