Franklin Resources (NYSE:BEN) Issues Earnings Results, Misses Expectations By $0.01 EPS

Franklin Resources (NYSE:BEN) announced its quarterly earnings results on Monday. The closed-end fund reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis.

Franklin Resources Trading Down 6.4 %

NYSE BEN opened at $23.38 on Tuesday. The company’s fifty day moving average price is $26.79 and its two-hundred day moving average price is $26.37. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40. Franklin Resources has a 12 month low of $21.88 and a 12 month high of $30.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.24 annualized dividend and a yield of 5.30%. Franklin Resources’s dividend payout ratio is presently 65.26%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BEN. Morgan Stanley upped their target price on Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft decreased their price target on Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, January 30th. UBS Group lifted their price objective on shares of Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $24.00 to $30.00 in a report on Monday, January 8th. Finally, TD Cowen initiated coverage on shares of Franklin Resources in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.50.

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.