Analysts’ Weekly Ratings Updates for Franklin Resources (BEN)
A number of research firms have changed their ratings and price targets for Franklin Resources (NYSE: BEN):
- 10/11/2016 – Franklin Resources had its price target raised by analysts at Jefferies Group from $34.00 to $36.00. They now have a “hold” rating on the stock.
- 10/11/2016 – Franklin Resources had its “sell” rating reaffirmed by analysts at Barclays PLC. They now have a $31.00 price target on the stock.
- 10/5/2016 – Franklin Resources had its price target raised by analysts at Deutsche Bank AG from $34.00 to $35.00. They now have a “hold” rating on the stock.
- 10/4/2016 – Franklin Resources was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Franklin Resources has negative record of earnings surprises in recent quarters. The company’s muted growth in Assets Under Management is likely to put a pressure on investment management fees growth. Also, volatile markets and unfavorable global economic conditions may further affect performance of the company. Additionally, the company is subject to numerous regulations by U.S. and foreign regulators that add further complexity to ongoing global compliance operations. However, Franklin should benefit from its diversification strategies, strong distribution platform and expense management.”
- 9/20/2016 – Franklin Resources had its price target lowered by analysts at Citigroup Inc. from $40.00 to $39.00. They now have a “neutral” rating on the stock.
- 9/9/2016 – Franklin Resources had its price target raised by analysts at Deutsche Bank AG from $34.00 to $35.00. They now have a “hold” rating on the stock.
- 8/25/2016 – Franklin Resources had its “underweight” rating reaffirmed by analysts at Barclays PLC.
Shares of Franklin Resources Inc. (NYSE:BEN) traded up 0.101% during midday trading on Wednesday, reaching $34.815. 1,620,888 shares of the company were exchanged. The company has a market capitalization of $20.06 billion, a P/E ratio of 12.880 and a beta of 1.66. The stock has a 50-day moving average price of $35.79 and a 200 day moving average price of $35.95. Franklin Resources Inc. has a 52-week low of $30.56 and a 52-week high of $42.23.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Thursday, July 28th. The closed-end fund reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Franklin Resources had a net margin of 23.44% and a return on equity of 12.98%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business posted $0.82 earnings per share. Franklin Resources’s revenue was down 18.3% compared to the same quarter last year. Equities research analysts expect that Franklin Resources Inc. will post $2.80 EPS for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/analysts-weekly-ratings-updates-for-franklin-resources-ben.html
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 annualized dividend and a yield of 2.07%. Franklin Resources’s dividend payout ratio (DPR) is presently 26.57%.
In other Franklin Resources news, insider Jennifer M. Johnson sold 15,892 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $35.99, for a total value of $571,953.08. Following the sale, the insider now directly owns 1,473,782 shares in the company, valued at $53,041,414.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Craig Steven Tyle sold 5,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $36.18, for a total transaction of $180,900.00. The disclosure for this sale can be found here. 20.41% of the stock is currently owned by company insiders.
Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.
Receive News & Ratings for Franklin Resources Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc and related companies with MarketBeat.com's FREE daily email newsletter.