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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Thursday, December 5th will be given 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 dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 5th.

Franco-Nevada has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.0 %

FNV 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. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $137.60. The stock has a 50-day moving average of $125.67 and a 200 day moving average of $123.67.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on FNV. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. HC Wainwright increased their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Scotiabank lowered their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.83.

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.