$0.72 EPS Expected for Franklin Resources, Inc. (BEN) This Quarter
Equities research analysts expect that Franklin Resources, Inc. (NYSE:BEN) will report earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Franklin Resources’ earnings, with estimates ranging from $0.70 to $0.73. Franklin Resources posted earnings of $0.82 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 12.2%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Franklin Resources will report full year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.95 to $2.99. For the next fiscal year, analysts anticipate that the business will post earnings of $2.93 per share, with EPS estimates ranging from $2.79 to $3.00. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Franklin Resources.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS.
Several equities analysts recently commented on BEN shares. Barclays PLC started coverage on Franklin Resources in a report on Friday, September 8th. They issued an “underweight” rating and a $40.00 target price on the stock. BidaskClub raised Franklin Resources from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Wells Fargo & Company lowered Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a report on Monday, July 24th. Finally, Deutsche Bank AG increased their target price on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $44.36.
Franklin Resources (BEN) traded up 1.01% during mid-day trading on Tuesday, hitting $44.99. The stock had a trading volume of 299,481 shares. Franklin Resources has a 52-week low of $33.02 and a 52-week high of $47.65. The firm has a 50-day moving average of $43.62 and a 200-day moving average of $43.49. The stock has a market cap of $25.09 billion, a P/E ratio of 14.64 and a beta of 1.72.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Thursday, September 28th. Franklin Resources’s payout ratio is 26.14%.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Andra AP fonden boosted its stake in shares of Franklin Resources by 71.3% during the second quarter. Andra AP fonden now owns 53,800 shares of the closed-end fund’s stock worth $2,410,000 after buying an additional 22,400 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Franklin Resources by 3.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 50,382 shares of the closed-end fund’s stock worth $2,123,000 after buying an additional 1,572 shares during the period. Contrarius Investment Management Ltd boosted its stake in shares of Franklin Resources by 2.4% during the second quarter. Contrarius Investment Management Ltd now owns 543,258 shares of the closed-end fund’s stock worth $24,333,000 after buying an additional 12,540 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Franklin Resources by 35.2% during the second quarter. JPMorgan Chase & Co. now owns 968,885 shares of the closed-end fund’s stock worth $43,395,000 after buying an additional 252,165 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Franklin Resources by 15.6% during the second quarter. Victory Capital Management Inc. now owns 34,822 shares of the closed-end fund’s stock worth $1,560,000 after buying an additional 4,703 shares during the period. Institutional investors and hedge funds own 44.98% 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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