Q3 2024 Earnings Forecast for Franklin Resources, Inc. Issued By Zacks Research (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) – Research analysts at Zacks Research dropped their Q3 2024 earnings estimates for shares of Franklin Resources in a research report issued on Monday, May 20th. Zacks Research analyst R. Department now anticipates that the closed-end fund will post earnings of $0.58 per share for the quarter, down from their prior estimate of $0.59. The consensus estimate for Franklin Resources’ current full-year earnings is $2.47 per share. Zacks Research also issued estimates for Franklin Resources’ Q4 2024 earnings at $0.67 EPS, Q3 2025 earnings at $0.80 EPS, Q2 2026 earnings at $0.74 EPS and FY2026 earnings at $3.09 EPS.

A number of other equities research analysts also recently weighed in on BEN. BMO Capital Markets lowered their target price on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Evercore ISI dropped their target price on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 30th. TD Cowen cut their target price on shares of Franklin Resources from $29.00 to $25.50 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. StockNews.com downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley increased their price objective on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Franklin Resources currently has an average rating of “Hold” and an average price target of $26.00.

Franklin Resources Stock Performance

BEN stock opened at $23.76 on Tuesday. Franklin Resources has a 1-year low of $21.88 and a 1-year high of $30.32. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $25.51 and a 200-day moving average price of $26.45. The firm has a market cap of $12.50 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.44.

Franklin Resources (NYSE:BEN) last announced its earnings results on Monday, April 29th. The closed-end fund reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Franklin Resources had a return on equity of 10.82% and a net margin of 11.09%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business earned $0.61 EPS. Franklin Resources’s quarterly revenue was up 11.7% on a year-over-year basis.

Institutional Trading of Franklin Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. Blue Trust Inc. grew its holdings in Franklin Resources by 240.5% during the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after buying an additional 623 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Franklin Resources by 975.5% in the third quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock valued at $28,000 after purchasing an additional 1,034 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in shares of Franklin Resources during the fourth quarter valued at about $31,000. Headlands Technologies LLC purchased a new position in Franklin Resources during the first quarter worth about $32,000. Finally, Massmutual Trust Co. FSB ADV grew its position in Franklin Resources by 149.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 665 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 5.22%. Franklin Resources’s dividend payout ratio (DPR) is currently 70.86%.

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.