Equities research analysts expect that Franklin Templeton Investments (NYSE:BEN) will report sales of $1.59 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Franklin Templeton Investments’ earnings. The highest sales estimate is $1.60 billion and the lowest is $1.58 billion. Franklin Templeton Investments posted sales of $1.60 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.6%. The firm is expected to announce its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Franklin Templeton Investments will report full-year sales of $6.37 billion for the current year, with estimates ranging from $6.35 billion to $6.40 billion. For the next fiscal year, analysts expect that the business will report sales of $6.38 billion per share, with estimates ranging from $6.20 billion to $6.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Franklin Templeton Investments.
Franklin Templeton Investments (NYSE:BEN) last announced its earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 EPS for the quarter, beating the consensus estimate of $0.75 by $0.13. Franklin Templeton Investments had a return on equity of 13.88% and a net margin of 10.44%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Franklin Templeton Investments’s revenue was up 3.5% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Franklin Templeton Investments by 6.0% during the fourth quarter. BlackRock Inc. now owns 22,211,494 shares of the closed-end fund’s stock valued at $962,425,000 after acquiring an additional 1,258,796 shares in the last quarter. Pzena Investment Management LLC lifted its position in Franklin Templeton Investments by 0.5% during the fourth quarter. Pzena Investment Management LLC now owns 10,390,099 shares of the closed-end fund’s stock valued at $450,203,000 after purchasing an additional 46,938 shares during the last quarter. Kiltearn Partners LLP lifted its position in Franklin Templeton Investments by 5.9% during the fourth quarter. Kiltearn Partners LLP now owns 6,520,000 shares of the closed-end fund’s stock valued at $282,512,000 after purchasing an additional 362,400 shares during the last quarter. APG Asset Management N.V. lifted its position in Franklin Templeton Investments by 10.6% during the fourth quarter. APG Asset Management N.V. now owns 4,318,827 shares of the closed-end fund’s stock valued at $155,842,000 after purchasing an additional 412,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Franklin Templeton Investments by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 3,742,985 shares of the closed-end fund’s stock valued at $161,870,000 after purchasing an additional 226,459 shares during the last quarter. 46.94% of the stock is owned by institutional investors.
BEN stock traded down $0.13 during mid-day trading on Thursday, hitting $34.04. The stock had a trading volume of 4,904,687 shares, compared to its average volume of 4,070,270. Franklin Templeton Investments has a 1-year low of $32.41 and a 1-year high of $47.65. The firm has a market cap of $18,780.00, a P/E ratio of 11.31, a PEG ratio of 1.47 and a beta of 1.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.28 and a quick ratio of 4.28.
The company also recently disclosed a special dividend, which was paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th were paid a $3.00 dividend. The ex-dividend date was Wednesday, March 28th. This is a boost from Franklin Templeton Investments’s previous special dividend of $0.50. This represents a dividend yield of 2.35%. Franklin Templeton Investments’s dividend payout ratio is 30.56%.
Franklin Templeton Investments announced that its Board of Directors has initiated a share buyback program on Thursday, April 12th that permits the company to repurchase 80,000,000 shares. This repurchase authorization permits the closed-end fund to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
About Franklin Templeton Investments
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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