Franklin Resources Receives New Coverage from Analysts at ISI Group (BEN)
ISI Group began coverage on shares of Franklin Resources (NYSE:BEN) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets reiterated a “buy” rating on shares of Franklin Resources in a research note to investors on Thursday, October 3rd. They now have a $58.00 price target on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Franklin Resources from $51.00 to $54.00 in a research note to investors on Thursday, October 3rd. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Franklin Resources in a research note to investors on Tuesday, September 24th. They now have a $53.00 price target on the stock. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Franklin Resources currently has an average rating of “Hold” and an average target price of $134.06.
Shares of Franklin Resources (NYSE:BEN) opened at 50.82 on Tuesday. Franklin Resources has a one year low of $41.3367 and a one year high of $56.54. The stock has a 50-day moving average of $48.7 and a 200-day moving average of $49.65. The company has a market cap of $32.281 billion and a P/E ratio of 15.25.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, analysts predict that Franklin Resources will post $3.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.