Franklin Resources Receives Average Recommendation of “Hold” from Brokerages (NYSE:BEN)
Shares of Franklin Resources (NYSE:BEN) have been given an average recommendation of “Hold” by the thirteen ratings firms that are covering the stock, Stock Ratings News reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $60.67.
In other Franklin Resources news, EVP John M. Lusk sold 14,704 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $55.74, for a total transaction of $819,600.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on BEN shares. 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.
Franklin Resources (NYSE:BEN) opened at 56.20 on Monday. Franklin Resources has a 1-year low of $45.06 and a 1-year high of $58.87. The stock has a 50-day moving average of $55.96 and a 200-day moving average of $54.66. The company has a market cap of $35.141 billion and a P/E ratio of 15.84.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results 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. Analysts expect that Franklin Resources will post $3.73 EPS for the current fiscal year.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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