JPMorgan Chase & Co. Increases Franklin Resources Price Target to $54.00 (BEN)
Equities researchers at JPMorgan Chase & Co. raised their target price on shares of Franklin Resources (NYSE:BEN) from $48.00 to $54.00 in a research report issued on Tuesday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 9.05% from the company’s current price.
A number of other analysts have also recently weighed in on BEN. Analysts at ISI Group initiated coverage on shares of Franklin Resources in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Separately, 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. Finally, 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. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $129.03.
Franklin Resources (NYSE:BEN) traded down 2.56% during mid-day trading on Tuesday, hitting $49.52. 2,720,531 shares of the company’s stock traded hands. Franklin Resources has a 52-week low of $41.3367 and a 52-week high of $56.54. The stock has a 50-day moving average of $48.8 and a 200-day moving average of $49.65. The company has a market cap of $31.455 billion and a price-to-earnings 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 for the quarter, beating the analysts’ 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 last year, the company posted $2.12 earnings per share. Franklin Resources’s revenue was up 16.9% compared to the same quarter last year. 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. Stockholders 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 0.81%. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Franklin Resources’s previous quarterly dividend of $0.10.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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