Franco-Nevada Co. (FNV) to Issue Quarterly Dividend of $0.36 on June 27th

Franco-Nevada Co. (NYSE:FNVGet Free Report) (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 1.20%. The ex-dividend date is Thursday, June 13th.

Franco-Nevada has increased its dividend by an average of 9.7% per year over the last three years and has increased its dividend every year for the last 1 years. Franco-Nevada has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Franco-Nevada to earn $3.43 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 42.0%.

Franco-Nevada Stock Performance

NYSE FNV opened at $120.02 on Tuesday. The company has a fifty day moving average of $122.54 and a 200 day moving average of $114.74. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $149.06.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, analysts predict that Franco-Nevada will post 3.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FNV. HC Wainwright lifted their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Bank of America cut their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Jefferies Financial Group lifted 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. Raymond James lifted 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. Finally, Scotiabank lifted their price objective on shares of Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Hold” and an average price target of $148.70.

Read Our Latest Analysis on Franco-Nevada

Franco-Nevada Company Profile

(Get Free Report)

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.

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Dividend History for Franco-Nevada (NYSE:FNV)

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