Franklin Resources’s “Neutral” Rating Reaffirmed at JPMorgan Chase & Co. (BEN)
Franklin Resources (NYSE:BEN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday. They currently have a $61.00 price objective on the stock, up from their previous price objective of $58.00. JPMorgan Chase & Co.’s target price suggests a potential upside of 5.46% from the company’s current price.
Franklin Resources (NYSE:BEN) traded down 0.48% on Tuesday, hitting $57.56. The stock had a trading volume of 1,048,404 shares. Franklin Resources has a one year low of $45.06 and a one year high of $58.87. The stock’s 50-day moving average is $56.05 and its 200-day moving average is $54.43. The company has a market cap of $36.130 billion and a price-to-earnings ratio of 16.48.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.89 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $2.69 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Franklin Resources will post $3.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, June 26th.
In other Franklin Resources news, EVP William Young Yun sold 25,000 shares of Franklin Resources stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $57.84, for a total value of $1,446,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Franklin Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 18th. They now have a $63.00 price target on the stock, up previously from $53.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Franklin Resources in a research note on Monday, June 16th. They now have a $59.00 price target on the stock. Finally, 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. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Franklin Resources presently has a consensus rating of “Hold” and a consensus price target of $73.11.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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