Franklin Resources, Inc. (BEN) Expected to Post Earnings of $0.78 Per Share

Wall Street brokerages expect Franklin Resources, Inc. (NYSE:BEN) to report earnings per share of $0.78 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Franklin Resources’ earnings, with estimates ranging from $0.73 to $0.80. Franklin Resources reported earnings per share of $0.74 in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The business is expected to issue its next quarterly earnings report on Friday, April 27th.

According to Zacks, analysts expect that Franklin Resources will report full-year earnings of $3.25 per share for the current year, with EPS estimates ranging from $3.10 to $3.37. For the next financial year, analysts anticipate that the company will report earnings of $3.47 per share, with EPS estimates ranging from $3.19 to $3.66. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Franklin Resources.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis.

BEN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research report on Thursday, October 12th. Wells Fargo & Co decreased their price objective on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Citigroup decreased their price objective on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. UBS Group upped their price objective 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, Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Franklin Resources currently has a consensus rating of “Hold” and an average target price of $44.45.

Shares of Franklin Resources (NYSE BEN) traded down $1.44 during trading on Thursday, reaching $38.00. The company had a trading volume of 4,712,594 shares, compared to its average volume of 3,438,233. Franklin Resources has a 52 week low of $37.01 and a 52 week high of $47.65. The company has a market capitalization of $21,810.00, a price-to-earnings ratio of 32.20, a PEG ratio of 1.35 and a beta of 1.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.42%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, December 22nd. Franklin Resources’s dividend payout ratio is presently 77.97%.

In other news, insider Jed A. Plafker sold 7,790 shares of the 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 filing with the SEC, which is available through this hyperlink. Also, Chairman Gregory E. Johnson sold 49,988 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total value of $2,178,477.04. Following the completion of the sale, the chairman now owns 2,116,886 shares in the company, valued at $92,253,891.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 457,778 shares of company stock worth $19,700,614. Company insiders own 22.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEN. Thrivent Financial For Lutherans increased its holdings in Franklin Resources by 1.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,930 shares of the closed-end fund’s stock worth $579,000 after purchasing an additional 229 shares during the period. GSA Capital Partners LLP purchased a new position in Franklin Resources during the 2nd quarter worth $219,000. Dimensional Fund Advisors LP increased its holdings in Franklin Resources by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,229,780 shares of the closed-end fund’s stock worth $55,081,000 after purchasing an additional 11,550 shares during the period. Shelton Capital Management purchased a new position in Franklin Resources during the 2nd quarter worth $332,000. Finally, Janus Henderson Group PLC increased its holdings in Franklin Resources by 32.2% during the 2nd quarter. Janus Henderson Group PLC now owns 65,829 shares of the closed-end fund’s stock worth $2,948,000 after purchasing an additional 16,023 shares during the period. Institutional investors own 45.03% 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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Earnings History and Estimates for Franklin Resources (NYSE:BEN)

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