Franklin Resources (NYSE:BEN) Posts Earnings Results, Misses Expectations By $0.01 EPS

Franklin Resources (NYSE:BEN) released its quarterly earnings data on Monday. The closed-end fund reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the company posted $0.61 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year.

Franklin Resources Price Performance

NYSE:BEN traded down $0.24 on Tuesday, reaching $23.14. 362,721 shares of the company’s stock traded hands, compared to its average volume of 3,640,015. The stock has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $26.37. Franklin Resources has a 12 month low of $21.88 and a 12 month high of $30.32. The firm has a market cap of $12.18 billion, a PE ratio of 12.31, a P/E/G ratio of 1.31 and a beta of 1.40. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.31 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.24 dividend on an annualized basis and a yield of 5.36%. Franklin Resources’s payout ratio is presently 65.26%.

Analyst Upgrades and Downgrades

BEN has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. TD Cowen assumed coverage on shares of Franklin Resources in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price for the company. Wells Fargo & Company upgraded Franklin Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $24.00 to $30.00 in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Finally, UBS Group increased their price objective on shares of Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Franklin Resources has a consensus rating of “Hold” and an average target price of $27.50.

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.