Keefe, Bruyette & Woods Increases Franklin Resources Price Target to $66.00 (BEN)
Analysts at Keefe, Bruyette & Woods upped their target price on shares of Franklin Resources (NYSE:BEN) from $62.00 to $66.00 in a research report issued to clients and investors on Friday, Analyst Ratings News reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.75% from the stock’s previous close.
Franklin Resources (NYSE:BEN) opened at 57.02 on Friday. Franklin Resources has a 52-week low of $43.8867 and a 52-week high of $57.98. The stock has a 50-day moving average of $55.72 and a 200-day moving average of $51.14. The company has a market cap of $35.970 billion and a price-to-earnings ratio of 16.84.
Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, October 24th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.06. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Franklin Resources will post $3.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.10.
BEN has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Franklin Resources in a research note to investors on Tuesday, December 17th. They now have a $57.00 price target on the stock. Separately, analysts at Evercore Partners upgraded shares of Franklin Resources from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, November 22nd. They now have a $64.00 price target on the stock, up previously from $51.00. Finally, analysts at RBC Capital initiated coverage on shares of Franklin Resources in a research note to investors on Monday, November 11th. They set a “sector perform” rating and a $59.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $110.97.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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