Franco-Nevada Co. (NYSE:FNV) Plans Quarterly Dividend of $0.38

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders 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 dividend yield of 1.12%. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36.

Franco-Nevada has increased its dividend by an average of 7.5% annually over the last three years. Franco-Nevada has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of Franco-Nevada stock traded down $0.18 during trading hours on Friday, hitting $136.06. The company’s stock had a trading volume of 632,355 shares, compared to its average volume of 634,183. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of -43.06, a P/E/G ratio of 5.90 and a beta of 0.72. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $138.34. The firm has a fifty day moving average of $123.15 and a 200-day moving average of $124.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results 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). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. Franco-Nevada’s revenue was down 10.9% on a year-over-year basis. On average, sell-side analysts expect that Franco-Nevada will post 3.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of research reports. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Scotiabank reduced their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.