Analysts expect that Franklin Resources, Inc. (NYSE:BEN) will announce earnings per share (EPS) of $0.62 for the current quarter, Zacks reports. Three analysts have provided estimates for Franklin Resources’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.57. Franklin Resources reported earnings per share of $0.75 in the same quarter last year, which would indicate a negative year over year growth rate of 17.3%. The company is expected to announce its next quarterly earnings report on Friday, July 26th.
On average, analysts expect that Franklin Resources will report full-year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.60. For the next fiscal year, analysts forecast that the firm will report earnings of $2.81 per share, with EPS estimates ranging from $2.64 to $3.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Franklin Resources.
Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, April 26th. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.08. The company had revenue of $1.43 billion for 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%. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share.
BEN has been the topic of a number of recent research reports. Evercore ISI cut Franklin Resources from an “in-line” rating to an “underperform” rating and set a $30.19 target price on the stock. in a research note on Tuesday, January 8th. Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective on shares of Franklin Resources in a research note on Wednesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.00 price objective on shares of Franklin Resources in a research note on Wednesday, January 9th. Barclays restated a “sell” rating and set a $23.00 price objective on shares of Franklin Resources in a research note on Thursday, January 10th. Finally, Bank of America cut shares of Franklin Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, January 11th. Seven equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.55.
In related news, EVP Craig Steven Tyle sold 10,663 shares of Franklin Resources stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $32.82, for a total transaction of $349,959.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.20% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its holdings in Franklin Resources by 17.1% during the 3rd quarter. Vanguard Group Inc now owns 32,666,942 shares of the closed-end fund’s stock worth $993,402,000 after purchasing an additional 4,764,162 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Franklin Resources by 2.9% in the fourth quarter. BlackRock Inc. now owns 23,139,023 shares of the closed-end fund’s stock valued at $686,304,000 after acquiring an additional 646,242 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Franklin Resources by 4.8% in the fourth quarter. Pzena Investment Management LLC now owns 9,396,639 shares of the closed-end fund’s stock valued at $278,704,000 after acquiring an additional 434,347 shares in the last quarter. Kiltearn Partners LLP grew its holdings in shares of Franklin Resources by 4.6% in the fourth quarter. Kiltearn Partners LLP now owns 8,460,294 shares of the closed-end fund’s stock valued at $250,932,000 after acquiring an additional 370,500 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Franklin Resources by 526.8% in the fourth quarter. Bank of America Corp DE now owns 6,705,633 shares of the closed-end fund’s stock valued at $198,889,000 after purchasing an additional 5,635,864 shares during the last quarter. 49.52% of the stock is currently owned by hedge funds and other institutional investors.
BEN stock traded up $0.23 during mid-day trading on Thursday, reaching $34.27. The company had a trading volume of 11,539 shares, compared to its average volume of 2,441,810. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.93 and a current ratio of 3.54. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.94 and a beta of 1.18. Franklin Resources has a one year low of $27.34 and a one year high of $35.82.
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, March 28th. Franklin Resources’s payout ratio is currently 32.60%.
Franklin Resources Company Profile
Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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