Franklin Resources, Inc. (NYSE:BEN – Get Free Report) has been given a consensus recommendation of “Strong Sell” by the ten brokerages that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.25.
Several brokerages recently weighed in on BEN. The Goldman Sachs Group increased their price objective on shares of Franklin Resources from $21.50 to $24.50 and gave the company a “sell” rating in a report on Tuesday, August 1st. Wells Fargo & Company upped their target price on shares of Franklin Resources from $25.50 to $26.00 in a research note on Thursday, July 13th. Morgan Stanley upped their target price on shares of Franklin Resources from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Tuesday, August 8th. StockNews.com initiated coverage on shares of Franklin Resources in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, BMO Capital Markets upped their target price on shares of Franklin Resources from $24.00 to $27.00 in a research note on Monday, July 31st.
Institutional Investors Weigh In On Franklin Resources
Franklin Resources Price Performance
NYSE:BEN opened at $26.22 on Friday. The firm has a market cap of $13.08 billion, a PE ratio of 16.39 and a beta of 1.30. Franklin Resources has a 12 month low of $20.24 and a 12 month high of $34.37. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $27.48 and its two-hundred day moving average price is $26.72.
Franklin Resources (NYSE:BEN – Get Free Report) last announced its earnings results on Friday, July 28th. The closed-end fund reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Franklin Resources had a net margin of 10.51% and a return on equity of 10.43%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $0.82 earnings per share. Franklin Resources’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Franklin Resources will post 2.38 EPS for the current fiscal year.
Franklin Resources Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.58%. Franklin Resources’s payout ratio is 75.00%.
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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