Franklin Resources Given “Buy” Rating at BMO Capital Markets (BEN)
Franklin Resources (NYSE:BEN)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a research report issued on Thursday, AR Network reports. They currently have a $58.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 13.81% from the company’s current price.
BEN has been the subject of a number of other recent research reports. Analysts at Morgan Stanley raised their price target on shares of Franklin Resources (NYSE:BEN) from $51.00 to $54.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Franklin Resources (NYSE:BEN) in a research note to investors on Tuesday, September 24th. They now have a $53.00 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of Franklin Resources (NYSE:BEN) from $56.00 to $58.00 in a research note to investors on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Franklin Resources has a consensus rating of “Hold” and an average price target of $134.06.
In other Franklin Resources news, EVP William Young Yun sold 6,000 shares of Franklin Resources stock on the open market in a transaction dated Thursday, September 19th. The shares were sold at an average price of $53.08, for a total value of $318,480.00. Following the sale, the executive vice president now directly owns 160,451 shares in the company, valued at approximately $8,516,739. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Franklin Resources (NYSE:BEN) traded up 0.08% during mid-day trading on Thursday, hitting $50.96. The stock had a trading volume of 2,094,060 shares. Franklin Resources has a 1-year low of $41.3367 and a 1-year high of $56.54. The stock’s 50-day moving average is $48.54 and its 200-day moving average is $49.62. The company has a market cap of $32.370 billion and a price-to-earnings ratio of 15.28.
Franklin Resources (NYSE:BEN) last announced its earnings results on Monday, July 29th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.01. The company had revenue of $2.08 million for the quarter, compared to the consensus estimate of $2.06 million. During the same quarter in the prior year, the company posted $2.12 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. Analysts expect that Franklin Resources will post $3.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, September 26th. This is an increase from Franklin Resources’s previous quarterly dividend of $0.10.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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