Brokerages Anticipate Franklin Resources, Inc. (BEN) Will Announce Quarterly Sales of $1.60 Billion

Wall Street brokerages predict that Franklin Resources, Inc. (NYSE:BEN) will post $1.60 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Franklin Resources’ earnings. The lowest sales estimate is $1.60 billion and the highest is $1.61 billion. Franklin Resources also reported sales of $1.60 billion during the same quarter last year. The business is expected to issue its next quarterly earnings report on Friday, April 27th.

On average, analysts expect that Franklin Resources will report full year sales of $1.60 billion for the current year, with estimates ranging from $6.46 billion to $6.56 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.62 billion per share, with estimates ranging from $6.38 billion to $6.92 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Franklin Resources.

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

A number of research analysts have recently issued reports on BEN shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a report on Friday, December 22nd. Wells Fargo & Co reduced their price objective on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 27th. ValuEngine cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Thursday, January 11th. Finally, UBS Group lifted their price objective on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Franklin Resources currently has a consensus rating of “Hold” and a consensus target price of $44.45.

In related news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $42.95, for a total transaction of $17,180,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory E. Johnson sold 49,988 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total transaction of $2,178,477.04. Following the transaction, 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. Insiders have sold 457,778 shares of company stock valued at $19,700,614 over the last quarter. Corporate insiders own 22.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in BEN. Mountain Capital Investment Advisors Inc purchased a new position in Franklin Resources during the second quarter worth about $123,000. Cerebellum GP LLC purchased a new position in Franklin Resources during the fourth quarter worth about $125,000. Benjamin F. Edwards & Company Inc. purchased a new position in Franklin Resources during the third quarter worth about $127,000. Valeo Financial Advisors LLC boosted its holdings in Franklin Resources by 150.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,015 shares of the closed-end fund’s stock worth $174,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Buckley Wealth Management LLC purchased a new position in Franklin Resources during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 45.03% of the company’s stock.

Shares of Franklin Resources (NYSE BEN) opened at $38.22 on Friday. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.09. The company has a market cap of $21,010.00, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.63. Franklin Resources has a twelve month low of $37.01 and a twelve month high of $47.65.

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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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