Equities analysts expect Franklin Resources, Inc. (NYSE:BEN) to post $1.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Franklin Resources’ earnings, with the lowest sales estimate coming in at $1.48 billion and the highest estimate coming in at $1.50 billion. Franklin Resources reported sales of $1.56 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, July 30th.
On average, analysts expect that Franklin Resources will report full year sales of $5.84 billion for the current financial year, with estimates ranging from $5.83 billion to $5.86 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.99 billion, with estimates ranging from $5.85 billion to $6.11 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Franklin Resources.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, April 26th. The closed-end fund reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Franklin Resources had a net margin of 26.10% and a return on equity of 14.24%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $0.78 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year.
BEN has been the subject of several recent research reports. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Friday, April 26th. Bank of America set a $180.00 price objective on shares of CME Group and gave the company a “hold” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered shares of Franklin Resources from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $34.00 to $33.00 in a report on Monday, April 29th. Zacks Investment Research upgraded shares of IMI PLC/S from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Citigroup lowered shares of Apergy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $34.00 in a report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $30.71.
In other news, EVP Craig Steven Tyle sold 10,924 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.04, for a total value of $350,004.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BEN. Trustcore Financial Services LLC acquired a new stake in Franklin Resources during the 1st quarter worth $25,000. Knuff & Co LLC acquired a new stake in Franklin Resources during the 1st quarter worth $33,000. Vigilant Capital Management LLC acquired a new stake in Franklin Resources during the 1st quarter worth $39,000. Investors Research Corp acquired a new stake in Franklin Resources during the 1st quarter worth $56,000. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Franklin Resources by 102.2% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,943 shares of the closed-end fund’s stock worth $58,000 after acquiring an additional 982 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.
Shares of BEN stock opened at $34.83 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.54 and a quick ratio of 3.54. Franklin Resources has a 52 week low of $27.34 and a 52 week high of $35.82. The stock has a market cap of $17.91 billion, a PE ratio of 10.92, a PEG ratio of 1.96 and a beta of 1.19. The firm has a 50 day simple moving average of $33.83.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.99%. Franklin Resources’s payout ratio is 32.60%.
Franklin Resources Company Profile
Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.
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