$0.54 EPS Expected for Franklin Resources, Inc. (NYSE:BEN) This Quarter

Analysts expect Franklin Resources, Inc. (NYSE:BEN) to post earnings of $0.54 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Franklin Resources’ earnings. The highest EPS estimate is $0.66 and the lowest is $0.44. Franklin Resources posted earnings of $0.61 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 11.5%. The firm is expected to announce its next quarterly earnings report on Friday, October 23rd.

On average, analysts expect that Franklin Resources will report full-year earnings of $2.61 per share for the current financial year, with EPS estimates ranging from $2.53 to $2.70. For the next fiscal year, analysts forecast that the business will post earnings of $2.20 per share, with EPS estimates ranging from $1.73 to $2.88. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Franklin Resources.

Franklin Resources (NYSE:BEN) last issued its earnings results on Tuesday, July 28th. The closed-end fund reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Franklin Resources had a net margin of 19.04% and a return on equity of 12.39%. The business’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS.

BEN has been the topic of several research analyst reports. Morgan Stanley initiated coverage on shares of Franklin Resources in a research report on Thursday, September 3rd. They set an “underweight” rating and a $20.00 target price on the stock. Zacks Investment Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Wednesday, August 5th. Barclays restated a “sell” rating and set a $19.00 target price on shares of Franklin Resources in a research report on Friday, July 17th. Credit Suisse Group reiterated a “sell” rating and issued a $20.00 price objective on shares of Franklin Resources in a research report on Friday, September 11th. Finally, Citigroup boosted their price objective on shares of Franklin Resources from $20.00 to $22.75 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Franklin Resources presently has an average rating of “Hold” and a consensus target price of $21.70.

In other Franklin Resources news, Director Mariann H. Byerwalter sold 1,827 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $21.90, for a total value of $40,011.30. Following the transaction, the director now directly owns 9,188 shares in the company, valued at approximately $201,217.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in BEN. WASHINGTON TRUST Co acquired a new position in shares of Franklin Resources during the 1st quarter valued at about $25,000. Captrust Financial Advisors acquired a new position in shares of Franklin Resources during the 2nd quarter valued at about $27,000. Balentine LLC increased its stake in shares of Franklin Resources by 67.1% during the 2nd quarter. Balentine LLC now owns 1,372 shares of the closed-end fund’s stock valued at $29,000 after acquiring an additional 551 shares during the last quarter. Signaturefd LLC increased its stake in shares of Franklin Resources by 34.8% during the 2nd quarter. Signaturefd LLC now owns 3,285 shares of the closed-end fund’s stock valued at $69,000 after acquiring an additional 848 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Franklin Resources by 1,040.0% during the 2nd quarter. Trust Co. of Vermont now owns 3,420 shares of the closed-end fund’s stock valued at $72,000 after acquiring an additional 3,120 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

Shares of NYSE BEN traded up $0.22 during trading on Tuesday, hitting $21.22. 5,448,733 shares of the company were exchanged, compared to its average volume of 4,505,502. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 10.30 and a beta of 1.22. Franklin Resources has a 1 year low of $14.91 and a 1 year high of $29.95. The firm’s fifty day moving average price is $21.34 and its 200 day moving average price is $19.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.20 and a quick ratio of 4.20.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.08 dividend on an annualized basis and a yield of 5.09%. Franklin Resources’s dividend payout ratio (DPR) is 42.86%.

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.

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Earnings History and Estimates for Franklin Resources (NYSE:BEN)

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