Franklin Resources Receives “Neutral” Rating from Zacks (BEN)
Franklin Resources (NYSE:BEN)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Monday. They currently have a $59.00 target price on the stock. Zacks‘s price target suggests a potential upside of 6.10% from the company’s current price.
Zacks’ analyst wrote, “Franklin’s fiscal second-quarter 2014 earnings missed the Zacks Consensus Estimate and were below the prior-year quarter earnings as well. Results were impacted by higher expenses. However, improved top line, a healthy capital position and increased level of assets under management (AUM) were the positives. We believe Franklin’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. The company is also poised to benefit from its acquisitions in the last couple of years, efficient capital deployment activities and a strong balance sheet. However, regulatory restrictions and a sluggish economic recovery could mar AUM growth and increase costs.”
Franklin Resources (NYSE:BEN) traded down 0.38% during mid-day trading on Monday, hitting $55.40. 596,947 shares of the company’s stock traded hands. Franklin Resources has a one year low of $44.2167 and a one year high of $58.87. The stock has a 50-day moving average of $54.54 and a 200-day moving average of $54.24. The company has a market cap of $34.774 billion and a P/E ratio of 15.85.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.89 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.89. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Franklin Resources will post $3.73 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BEN. Analysts at Deutsche Bank initiated coverage on shares of Franklin Resources in a research note on Thursday, May 15th. They set a “hold” rating and a $58.00 price target on the stock. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of Franklin Resources in a research note on Tuesday, May 6th. They now have a $57.00 price target on the stock, down previously from $59.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Franklin Resources in a research note on Tuesday, April 29th. They now have a $58.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.65.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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