Franklin Resources Given New $58.00 Price Target at Keefe, Bruyette & Woods (BEN)
Research analysts at Keefe, Bruyette & Woods boosted their price objective on shares of Franklin Resources (NYSE:BEN) from $57.00 to $58.00 in a report released on Wednesday, American Banking News.com reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.93% from the stock’s previous close.
A number of other firms have also recently commented on BEN. Analysts at JPMorgan Chase & Co. raised their price target on shares of Franklin Resources from $48.00 to $54.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $122.69.
Shares of Franklin Resources (NYSE:BEN) traded up 1.03% on Wednesday, hitting $50.03. The stock had a trading volume of 2,175,945 shares. 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 $48.97 and a 200-day moving average of $49.65. The company has a market cap of $31.779 billion and a price-to-earnings ratio of 14.86.
Franklin Resources (NYSE:BEN) last released its earnings data 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. On average, analysts predict that Franklin Resources will post $3.43 earnings per share 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 0.80%. 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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