Franklin Resources (BEN) to Release Earnings on Monday

Franklin Resources (NYSE:BEN) is set to issue its quarterly earnings data before the market opens on Monday, April 29th. Analysts expect Franklin Resources to post earnings of $0.58 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.51 billion. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. During the same period last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts expect Franklin Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Franklin Resources Trading Up 0.5 %

Shares of NYSE BEN opened at $25.15 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average price is $27.06 and its two-hundred day moving average price is $26.32. Franklin Resources has a 52-week low of $21.88 and a 52-week high of $30.32. The stock has a market capitalization of $13.24 billion, a P/E ratio of 13.24, a PEG ratio of 1.31 and a beta of 1.40.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.93%. Franklin Resources’s dividend payout ratio (DPR) is 65.26%.

Analyst Ratings Changes

BEN has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Morgan Stanley raised their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, January 30th. TD Cowen assumed coverage on Franklin Resources in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target on the stock. Finally, StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Franklin Resources presently has an average rating of “Hold” and a consensus price target of $27.50.

Institutional Trading of Franklin Resources

Hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in shares of Franklin Resources by 430.7% during the third quarter. Federated Hermes Inc. now owns 6,719 shares of the closed-end fund’s stock valued at $145,000 after purchasing an additional 5,453 shares during the period. Rockefeller Capital Management L.P. bought a new position in Franklin Resources during the second quarter valued at about $143,000. Centaurus Financial Inc. acquired a new position in Franklin Resources during the first quarter worth about $134,000. Sunbelt Securities Inc. bought a new stake in shares of Franklin Resources in the 2nd quarter worth approximately $92,000. Finally, Advisors Asset Management Inc. acquired a new stake in Franklin Resources during the fourth quarter valued at approximately $83,000. Institutional investors own 47.56% of the company’s stock.

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.