Zacks Research Has Bearish Estimate for BEN FY2027 Earnings

Franklin Resources, Inc. (NYSE:BEN) – Research analysts at Zacks Research dropped their FY2027 earnings per share (EPS) estimates for shares of Franklin Resources in a research note issued to investors on Wednesday, June 25th. Zacks Research analyst R. Department now expects that the closed-end fund will post earnings per share of $2.67 for the year, down from their prior forecast of $2.69. The consensus estimate for Franklin Resources’ current full-year earnings is $2.16 per share.

A number of other equities research analysts have also commented on the stock. Evercore ISI decreased their price objective on shares of Franklin Resources from $19.00 to $17.00 and set an “underperform” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company upped their target price on shares of Franklin Resources from $20.00 to $21.50 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Cowen reissued a “buy” rating on shares of Franklin Resources in a report on Monday, June 16th. Bank of America dropped their price objective on shares of Franklin Resources from $20.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley reduced their price objective on Franklin Resources from $18.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, April 7th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Franklin Resources presently has a consensus rating of “Hold” and an average price target of $20.25.

Franklin Resources Stock Performance

Franklin Resources stock opened at $23.49 on Thursday. The stock has a 50-day simple moving average of $21.18 and a 200 day simple moving average of $20.32. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.93. Franklin Resources has a 12-month low of $16.25 and a 12-month high of $24.37. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 3.13 and a beta of 1.43.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. Franklin Resources had a return on equity of 9.13% and a net margin of 4.65%. The business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share.

Institutional Trading of Franklin Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Franklin Resources in the 4th quarter worth $53,676,000. Evergreen Quality Fund GP Ltd. increased its holdings in Franklin Resources by 99.1% in the first quarter. Evergreen Quality Fund GP Ltd. now owns 5,237,650 shares of the closed-end fund’s stock valued at $100,825,000 after purchasing an additional 2,607,460 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Franklin Resources by 173.7% in the fourth quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund’s stock valued at $71,658,000 after buying an additional 2,241,500 shares during the period. Two Sigma Investments LP boosted its holdings in Franklin Resources by 132.7% during the fourth quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund’s stock worth $59,557,000 after buying an additional 1,673,971 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Franklin Resources by 33.1% during the fourth quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund’s stock worth $130,645,000 after buying an additional 1,599,849 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a yield of 5.45%. Franklin Resources’s payout ratio is presently 188.24%.

About Franklin Resources

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.