Franklin Resources (BEN) to Release Earnings on Thursday
Franklin Resources (NYSE:BEN) will release its earnings data before the market opens on Thursday, January 25th. Analysts expect Franklin Resources to post earnings of $0.74 per share for the quarter.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. Franklin Resources’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. On average, analysts expect Franklin Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Franklin Resources (BEN) opened at $44.90 on Thursday. The company has a current ratio of 8.75, a quick ratio of 8.75 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $24,830.00, a P/E ratio of 14.92, a P/E/G ratio of 1.55 and a beta of 1.75. Franklin Resources has a 12-month low of $39.38 and a 12-month high of $47.65.
Several brokerages recently weighed in on BEN. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Friday, December 22nd. ValuEngine upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. UBS Group lifted their price target on Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup cut their price objective on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $44.45.
In other news, insider Jed A. Plafker sold 7,790 shares of Franklin Resources stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of Franklin Resources stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $42.95, for a total value of $17,180,000.00. The disclosure for this sale can be found here. Insiders sold 514,603 shares of company stock valued at $22,134,429 over the last 90 days. Company insiders own 22.20% of the company’s stock.
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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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