Franco-Nevada Co. (NYSE:FNV) Declares Dividend Increase – $0.38 Per Share

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Thursday, March 13th will be paid a dividend of 0.38 per share by the basic materials company on Thursday, March 27th. This represents a $1.52 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36.

Franco-Nevada has increased its dividend payment by an average of 7.5% per year over the last three years. Franco-Nevada has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Franco-Nevada to earn $4.04 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 35.6%.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $136.06 on Friday. The stock has a market capitalization of $26.20 billion, a P/E ratio of -43.06, a P/E/G ratio of 5.90 and a beta of 0.72. The business has a 50-day moving average of $123.40 and a two-hundred day moving average of $124.27. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $138.34.

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 analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, research analysts expect that Franco-Nevada will post 3.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FNV shares. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

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.