Wall Street brokerages forecast that Franklin Resources, Inc. (NYSE:BEN) will announce earnings per share of $0.62 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Franklin Resources’ earnings. The highest EPS estimate is $0.68 and the lowest is $0.57. Franklin Resources reported earnings per share of $0.75 during the same quarter last year, which indicates a negative year over year growth rate of 17.3%. The company is scheduled to report its next earnings report on Friday, July 26th.
On average, analysts expect that Franklin Resources will report full-year earnings of $2.57 per share for the current year, with EPS estimates ranging from $2.48 to $2.68. For the next financial year, analysts expect that the firm will report earnings of $2.84 per share, with EPS estimates ranging from $2.65 to $3.11. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Franklin Resources.
Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, April 26th. The closed-end fund reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.08. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Franklin Resources had a return on equity of 14.24% and a net margin of 26.10%. Franklin Resources’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS.
A number of research analysts have commented on BEN shares. TheStreet raised Franklin Resources from a “c+” rating to a “b” rating in a research report on Friday, April 26th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Wednesday, April 3rd. ValuEngine raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 price target on shares of Franklin Resources in a research report on Tuesday, February 26th. Finally, Citigroup raised Franklin Resources from a “sell” rating to a “neutral” rating and increased their target price for the stock from $28.00 to $35.00 in a research report on Monday, April 15th. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Franklin Resources currently has a consensus rating of “Hold” and an average price target of $30.55.
BEN stock traded down $0.15 during trading on Monday, hitting $33.21. 7,361 shares of the company traded hands, compared to its average volume of 2,342,901. The stock has a market capitalization of $16.93 billion, a PE ratio of 10.41, a P/E/G ratio of 1.85 and a beta of 1.16. 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 1 year low of $27.34 and a 1 year high of $35.82.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, June 27th. Franklin Resources’s dividend payout ratio (DPR) is presently 32.60%.
In related news, EVP Craig Steven Tyle sold 10,924 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $32.04, for a total transaction of $350,004.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Trustcore Financial Services LLC purchased a new position in Franklin Resources in the first quarter worth about $25,000. Knuff & Co LLC purchased a new position in Franklin Resources in the first quarter worth about $33,000. Vigilant Capital Management LLC purchased a new position in Franklin Resources in the first quarter worth about $39,000. Investors Research Corp purchased a new position in Franklin Resources in the first quarter worth about $56,000. Finally, Bronfman E.L. Rothschild L.P. grew its position in Franklin Resources by 102.2% in the fourth 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.
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.
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