Franklin Resources Rating Reiterated by Deutsche Bank (BEN)
Franklin Resources (NYSE:BEN)‘s stock had its “hold” rating reiterated by analysts at Deutsche Bank in a research report issued to clients and investors on Thursday. They currently have a $58.00 price objective on the stock, down from their previous price objective of $60.00. Deutsche Bank’s target price would indicate a potential upside of 7.11% from the stock’s previous close.
Franklin Resources (NYSE:BEN) traded down 3.42% during mid-day trading on Thursday, hitting $54.15. 3,621,914 shares of the company’s stock traded hands. Franklin Resources has a 52 week low of $45.06 and a 52 week high of $58.87. The stock’s 50-day moving average is $57.20 and its 200-day moving average is $54.59. The company has a market cap of $33.989 billion and a price-to-earnings ratio of 15.98.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.03. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Franklin Resources will post $3.76 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BEN. Analysts at Morgan Stanley cut their price target on shares of Franklin Resources from $63.00 to $61.00 in a research note on Thursday. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $63.00 to $64.00 in a research note on Thursday. Finally, analysts at Citigroup Inc. downgraded shares of Franklin Resources from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $59.00 price target on the stock, down previously from $61.00. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.54.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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