Analysts Anticipate Franklin Resources, Inc. (NYSE:BEN) Will Post Earnings of $0.73 Per Share
Equities analysts forecast that Franklin Resources, Inc. (NYSE:BEN) will post earnings per share of $0.73 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Franklin Resources’ earnings. The highest EPS estimate is $0.75 and the lowest is $0.69. Franklin Resources posted earnings of $0.77 per share in the same quarter last year, which would suggest a negative year over year growth rate of 5.2%. The business is expected to issue its next earnings results before the market opens on Friday, July 28th.
According to Zacks, analysts expect that Franklin Resources will report full-year earnings of $2.96 per share for the current financial year, with EPS estimates ranging from $2.89 to $3.00. For the next fiscal year, analysts forecast that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.73 to $3.09. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Franklin Resources.
Franklin Resources (NYSE:BEN) last released its earnings results on Friday, April 28th. The closed-end fund reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Franklin Resources had a return on equity of 14.34% and a net margin of 27.77%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue was down .8% compared to the same quarter last year.
Several equities research analysts recently issued reports on BEN shares. Credit Suisse Group set a $33.00 price objective on Franklin Resources and gave the company a “sell” rating in a report on Monday, March 27th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a report on Wednesday, May 17th. Deutsche Bank AG boosted their price objective on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, April 6th. BidaskClub upgraded Franklin Resources from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Franklin Resources in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.10.
Shares of Franklin Resources (NYSE BEN) traded down 0.30% during trading on Friday, hitting $46.67. The stock had a trading volume of 1,047,173 shares. The company’s 50 day moving average price is $44.62 and its 200 day moving average price is $42.47. Franklin Resources has a 12 month low of $33.02 and a 12 month high of $47.05. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 15.04 and a beta of 1.73.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%. Franklin Resources’s payout ratio is currently 25.81%.
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In other news, CFO Kenneth A. Lewis sold 17,141 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $44.51, for a total value of $762,945.91. Following the transaction, the chief financial officer now owns 124,021 shares in the company, valued at approximately $5,520,174.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 21.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. National Pension Service increased its position in Franklin Resources by 0.7% in the first quarter. National Pension Service now owns 326,001 shares of the closed-end fund’s stock worth $13,764,000 after buying an additional 2,255 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Franklin Resources by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 119,694 shares of the closed-end fund’s stock worth $5,043,000 after buying an additional 1,550 shares during the last quarter. Creative Planning increased its position in Franklin Resources by 1.8% in the first quarter. Creative Planning now owns 5,664 shares of the closed-end fund’s stock worth $239,000 after buying an additional 98 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Franklin Resources during the first quarter worth approximately $813,000. Finally, New England Research & Management Inc. acquired a new position in Franklin Resources during the first quarter worth approximately $1,041,000. Institutional investors and hedge funds own 45.55% of the company’s stock.
Franklin Resources Company Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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