Franklin Resources (NYSE:BEN) Announces Quarterly Earnings Results


Share on StockTwits

Franklin Resources (NYSE:BEN) announced its earnings results on Tuesday. The closed-end fund reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05, MarketWatch Earnings reports. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Franklin Resources had a net margin of 14.15% and a return on equity of 12.15%. The business’s quarterly revenue was up 58.4% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS.

Shares of Franklin Resources stock traded up $1.79 on Tuesday, hitting $32.05. 151,735 shares of the company’s stock traded hands, compared to its average volume of 3,462,111. Franklin Resources has a one year low of $16.41 and a one year high of $31.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.60 and a quick ratio of 1.60. The company has a fifty day moving average of $29.86 and a two-hundred day moving average of $25.81. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a $0.28 dividend. The ex-dividend date was Tuesday, March 30th. This represents a $1.12 annualized dividend and a dividend yield of 3.49%. Franklin Resources’s payout ratio is 42.91%.

In related news, CAO Gwen L. Shaneyfelt sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $30.32, for a total transaction of $151,600.00. Following the completion of the sale, the chief accounting officer now directly owns 68,749 shares of the company’s stock, valued at $2,084,469.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alok Sethi sold 10,000 shares of the stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $27.64, for a total value of $276,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,672 shares of company stock worth $2,104,440. 23.10% of the stock is owned by corporate insiders.

BEN has been the subject of several recent research reports. Barclays increased their target price on shares of Franklin Resources from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, January 25th. Credit Suisse Group increased their price objective on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 3rd. TheStreet upgraded shares of Franklin Resources from a “c+” rating to a “b” rating in a research note on Tuesday, February 2nd. BMO Capital Markets upgraded shares of Franklin Resources from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $22.00 to $36.00 in a research note on Monday, March 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Franklin Resources from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, April 9th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Franklin Resources presently has an average rating of “Hold” and an average target price of $25.23.

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.

Featured Article: Sell-Side Analysts

Earnings History for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.