Equities analysts expect Franklin Resources, Inc. (NYSE:BEN) to report $0.78 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Franklin Resources’ earnings. The highest EPS estimate is $0.81 and the lowest is $0.73. Franklin Resources reported earnings of $0.74 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The firm is expected to issue its next earnings results on Friday, April 27th.
On average, analysts expect that Franklin Resources will report full-year earnings of $3.26 per share for the current year, with EPS estimates ranging from $3.08 to $3.37. For the next fiscal year, analysts anticipate that the company will report earnings of $3.52 per share, with EPS estimates ranging from $3.40 to $3.66. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Franklin Resources.
Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.13. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a net margin of 10.44% and a return on equity of 13.88%. Franklin Resources’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS.
A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 price target on shares of Franklin Resources in a research note on Friday, December 22nd. ValuEngine upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Franklin Resources currently has an average rating of “Hold” and a consensus price target of $44.45.
In other Franklin Resources news, insider Jed A. Plafker sold 7,790 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $43.92, for a total transaction of $342,136.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $42.95, for a total transaction of $17,180,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 457,778 shares of company stock worth $19,700,614. 22.20% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. New Mexico Educational Retirement Board grew its position in shares of Franklin Resources by 4.3% during the 4th quarter. New Mexico Educational Retirement Board now owns 31,673 shares of the closed-end fund’s stock worth $1,372,000 after purchasing an additional 1,300 shares in the last quarter. LPL Financial LLC grew its position in shares of Franklin Resources by 9.3% during the 4th quarter. LPL Financial LLC now owns 15,417 shares of the closed-end fund’s stock worth $668,000 after purchasing an additional 1,311 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Franklin Resources by 5.2% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,760 shares of the closed-end fund’s stock worth $1,191,000 after purchasing an additional 1,322 shares in the last quarter. ETRADE Capital Management LLC grew its position in shares of Franklin Resources by 20.5% during the 3rd quarter. ETRADE Capital Management LLC now owns 8,295 shares of the closed-end fund’s stock worth $369,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Franklin Resources by 0.7% during the 3rd quarter. Sei Investments Co. now owns 212,846 shares of the closed-end fund’s stock worth $9,474,000 after purchasing an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 45.36% of the company’s stock.
Franklin Resources (NYSE BEN) opened at $39.31 on Friday. The firm has a market cap of $21,687.48, a PE ratio of 33.60, a PEG ratio of 1.33 and a beta of 1.63. Franklin Resources has a 52 week low of $37.01 and a 52 week high of $47.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28.
The business also recently declared a special dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a yield of 2.35%. This is a positive change from Franklin Resources’s previous special dividend of $0.50. Franklin Resources’s dividend payout ratio is 78.63%.
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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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