Franklin Resources Receives Average Rating of “Hold” from Analysts (NYSE:BEN)
Franklin Resources (NYSE:BEN) has earned an average rating of “Hold” from the thirteen analysts that are currently covering the company, StockRatingsNetwork.com reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $60.67.
Shares of Franklin Resources (NYSE:BEN) opened at 55.70 on Monday. Franklin Resources has a 52-week low of $45.06 and a 52-week high of $58.87. The stock has a 50-day moving average of $55.99 and a 200-day moving average of $54.52. The company has a market cap of $34.829 billion and a price-to-earnings ratio of 15.61.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.92 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.86 earnings per share. Franklin Resources’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Franklin Resources will post $3.73 earnings per share for the current fiscal year.
BEN has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Franklin Resources in a research note on Thursday, July 31st. They now have a $58.00 price target on the stock, down previously from $61.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Franklin Resources in a research note on Thursday, July 31st. They now have a $58.00 price target on the stock, down previously from $60.00. Finally, 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, July 31st.
In other Franklin Resources news, EVP John M. Lusk unloaded 14,704 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $55.74, for a total transaction of $819,600.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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