Franklin Resources, Inc. (NYSE:BEN) Given Consensus Recommendation of “Strong Sell” by Brokerages

Franklin Resources, Inc. (NYSE:BEN) 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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in Franklin Resources in the 2nd quarter valued at $25,000. RFP Financial Group LLC acquired a new stake in Franklin Resources in the 2nd quarter valued at $27,000. Resurgent Financial Advisors LLC acquired a new stake in Franklin Resources in the 4th quarter valued at $27,000. Eagle Bay Advisors LLC acquired a new stake in Franklin Resources in the 2nd quarter valued at $26,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Franklin Resources in the 2nd quarter valued at $30,000. 46.53% of the stock is currently owned by institutional investors and hedge funds.

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) 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.