Zacks: Analysts Anticipate Franklin Templeton Investments (BEN) Will Announce Quarterly Sales of $1.59 Billion

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 brokerages have commented on BEN. Jefferies Group reiterated a “hold” rating and issued a $36.00 price objective on shares of Franklin Templeton Investments in a research report on Wednesday, April 11th. Bank of America lowered Franklin Templeton Investments from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, April 9th. Morgan Stanley reduced their price target on Franklin Templeton Investments from $42.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 10th. Credit Suisse Group reduced their target price on Franklin Templeton Investments from $57.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, April 5th. Finally, Deutsche Bank reduced their target price on Franklin Templeton Investments from $37.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, April 6th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.09.

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.

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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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Earnings History and Estimates for Franklin Templeton Investments (NYSE:BEN)

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