Brokerages Anticipate Franklin Resources, Inc. (BEN) Will Announce Quarterly Sales of $1.55 Billion

Wall Street analysts predict that Franklin Resources, Inc. (NYSE:BEN) will report sales of $1.55 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Franklin Resources’ earnings, with estimates ranging from $1.54 billion to $1.55 billion. Franklin Resources reported sales of $1.62 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The company is scheduled to issue its next earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Franklin Resources will report full year sales of $6.34 billion for the current fiscal year, with estimates ranging from $6.33 billion to $6.35 billion. For the next financial year, analysts expect that the company will post sales of $6.16 billion, with estimates ranging from $6.10 billion to $6.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Franklin Resources.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 27th. The closed-end fund reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.57 billion. Franklin Resources had a return on equity of 15.40% and a net margin of 10.72%. Franklin Resources’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share.

A number of research analysts recently issued reports on BEN shares. JPMorgan Chase & Co. lowered Franklin Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $32.00 to $29.00 in a report on Thursday, September 6th. Zacks Investment Research lowered Franklin Resources from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Deutsche Bank decreased their target price on Franklin Resources from $33.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, August 16th. Morgan Stanley decreased their target price on Franklin Resources from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, August 2nd. Finally, Wells Fargo & Co decreased their target price on Franklin Resources from $35.00 to $34.00 and set a “market perform” rating for the company in a report on Monday, July 30th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $35.75.

In other Franklin Resources news, EVP Craig Steven Tyle sold 11,165 shares of Franklin Resources stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jed A. Plafker sold 4,820 shares of Franklin Resources stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $32.85, for a total value of $158,337.00. Following the sale, the insider now directly owns 56,369 shares of the company’s stock, valued at $1,851,721.65. The disclosure for this sale can be found here. 22.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Franklin Resources by 10.7% during the third quarter. Bank of Montreal Can now owns 437,857 shares of the closed-end fund’s stock worth $13,315,000 after purchasing an additional 42,174 shares in the last quarter. BLB&B Advisors LLC increased its position in shares of Franklin Resources by 34.8% during the third quarter. BLB&B Advisors LLC now owns 10,097 shares of the closed-end fund’s stock worth $307,000 after purchasing an additional 2,607 shares in the last quarter. LFA Lugano Financial Advisors SA increased its position in shares of Franklin Resources by 38.6% during the third quarter. LFA Lugano Financial Advisors SA now owns 8,380 shares of the closed-end fund’s stock worth $255,000 after purchasing an additional 2,335 shares in the last quarter. Beacon Financial Group increased its position in shares of Franklin Resources by 249.1% during the third quarter. Beacon Financial Group now owns 68,759 shares of the closed-end fund’s stock worth $2,091,000 after purchasing an additional 49,063 shares in the last quarter. Finally, DNB Asset Management AS increased its position in shares of Franklin Resources by 2.8% during the third quarter. DNB Asset Management AS now owns 208,925 shares of the closed-end fund’s stock worth $6,353,000 after purchasing an additional 5,600 shares in the last quarter. Institutional investors and hedge funds own 46.82% of the company’s stock.

NYSE:BEN remained flat at $$28.54 during midday trading on Monday. The company had a trading volume of 3,658,521 shares, compared to its average volume of 3,431,137. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.58 and a beta of 1.49. Franklin Resources has a 52-week low of $28.12 and a 52-week high of $45.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 3.37.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Thursday, September 27th. Franklin Resources’s dividend payout ratio (DPR) is 30.56%.

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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