Headlines about Franklin Resources (NYSE:BEN) have been trending somewhat positive recently, according to Accern. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Franklin Resources earned a coverage optimism score of 0.21 on Accern’s scale. Accern also gave media coverage about the closed-end fund an impact score of 47.1555541173453 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the headlines that may have impacted Accern’s analysis:
BEN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $46.00 target price on shares of Franklin Resources in a research note on Wednesday, November 1st. ValuEngine raised Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup reduced their price objective on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Finally, UBS Group lifted their price objective on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Franklin Resources currently has a consensus rating of “Hold” and an average price target of $44.45.
Franklin Resources (BEN) opened at $44.53 on Friday. Franklin Resources has a 1-year low of $39.38 and a 1-year high of $47.65. The company has a current ratio of 8.75, a quick ratio of 8.75 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $24,294.94, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.53 and a beta of 1.75.
Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business earned $0.82 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. equities analysts expect that Franklin Resources will post 3.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.07%. This is a boost from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, December 22nd. Franklin Resources’s dividend payout ratio is currently 30.67%.
In other news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the completion of the transaction, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jed A. Plafker sold 7,790 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The disclosure for this sale can be found here. Insiders sold a total of 514,603 shares of company stock valued at $22,134,429 over the last quarter. Company insiders own 22.20% of the company’s stock.
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Franklin Resources Company Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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