Zacks: Analysts Expect Franco Nevada Corp (NYSE:FNV) Will Announce Quarterly Sales of $220.84 Million

Share on StockTwits

Wall Street brokerages predict that Franco Nevada Corp (NYSE:FNV) (TSE:FNV) will post $220.84 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Franco Nevada’s earnings. The lowest sales estimate is $200.00 million and the highest is $233.21 million. Franco Nevada reported sales of $170.60 million during the same quarter last year, which indicates a positive year over year growth rate of 29.4%. The business is expected to issue its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Franco Nevada will report full year sales of $799.00 million for the current year, with estimates ranging from $768.00 million to $827.73 million. For the next fiscal year, analysts forecast that the firm will post sales of $953.79 million, with estimates ranging from $918.00 million to $1.01 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Franco Nevada.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Franco Nevada had a return on equity of 4.83% and a net margin of 22.42%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $175.55 million. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue was up 5.7% on a year-over-year basis.

FNV has been the topic of a number of recent analyst reports. TheStreet upgraded Franco Nevada from a “c+” rating to a “b-” rating in a research report on Tuesday, June 18th. TD Securities increased their target price on Franco Nevada from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. GMP Securities lowered Franco Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on Franco Nevada from $110.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, Raymond James increased their price objective on Franco Nevada from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Franco Nevada has an average rating of “Hold” and an average target price of $98.65.

Shares of NYSE:FNV traded up $1.77 during midday trading on Tuesday, reaching $98.37. 515,636 shares of the company’s stock traded hands, compared to its average volume of 660,111. Franco Nevada has a 1 year low of $58.26 and a 1 year high of $97.37. The company has a market cap of $18.07 billion, a P/E ratio of 84.07, a PEG ratio of 15.40 and a beta of 0.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.67 and a current ratio of 2.67. The company has a fifty day simple moving average of $90.73 and a two-hundred day simple moving average of $79.75.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.439 dividend. This is an increase from Franco Nevada’s previous quarterly dividend of $0.25. This represents a $1.76 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, September 11th. Franco Nevada’s dividend payout ratio is currently 85.47%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FNV. Prudential PLC acquired a new stake in shares of Franco Nevada during the 2nd quarter worth about $87,966,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Franco Nevada by 8.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,767 shares of the basic materials company’s stock worth $742,000 after purchasing an additional 680 shares in the last quarter. Ashford Capital Management Inc. boosted its position in Franco Nevada by 9.6% during the second quarter. Ashford Capital Management Inc. now owns 157,778 shares of the basic materials company’s stock worth $13,392,000 after purchasing an additional 13,850 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its position in Franco Nevada by 0.4% during the second quarter. Beutel Goodman & Co Ltd. now owns 2,974,852 shares of the basic materials company’s stock worth $252,487,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in Franco Nevada by 163.4% during the second quarter. Schroder Investment Management Group now owns 61,803 shares of the basic materials company’s stock worth $6,869,000 after purchasing an additional 38,338 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

See Also: Bull Market

Get a free copy of the Zacks research report on Franco Nevada (FNV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Franco Nevada (NYSE:FNV)

Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.