Wall Street brokerages predict that Franklin Templeton Investments (NYSE:BEN) will report $0.75 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Franklin Templeton Investments’ earnings. The highest EPS estimate is $0.78 and the lowest is $0.73. Franklin Templeton Investments reported earnings per share of $0.74 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, April 26th.
On average, analysts expect that Franklin Templeton Investments will report full year earnings of $3.16 per share for the current fiscal year, with EPS estimates ranging from $3.02 to $3.37. For the next year, analysts anticipate that the company will report earnings of $3.40 per share, with EPS estimates ranging from $3.30 to $3.64. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Franklin Templeton Investments.
Franklin Templeton Investments (NYSE:BEN) last announced its quarterly earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.13. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Franklin Templeton Investments had a return on equity of 13.88% and a net margin of 10.44%. Franklin Templeton Investments’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share.
BEN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Franklin Templeton Investments from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Thursday, January 11th. Deutsche Bank cut their price objective on Franklin Templeton Investments from $40.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, March 6th. ValuEngine cut Franklin Templeton Investments from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price objective on shares of Franklin Templeton Investments in a research report on Friday, December 22nd. Finally, Jefferies Group restated a “hold” rating and issued a $36.00 price objective on shares of Franklin Templeton Investments in a research report on Wednesday, April 11th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.09.
Franklin Templeton Investments stock opened at $34.17 on Tuesday. The company has a market capitalization of $18,785.51, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.60. Franklin Templeton Investments has a 12 month low of $32.41 and a 12 month high of $47.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.28 and a quick ratio of 4.28.
The company also recently declared a special dividend, which was paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th were paid a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This is a positive change from Franklin Templeton Investments’s previous special dividend of $0.50. This represents a dividend yield of 2.35%. Franklin Templeton Investments’s payout ratio is currently 30.56%.
Franklin Templeton Investments announced that its Board of Directors has initiated a share buyback program on Thursday, April 12th that permits the company to repurchase 80,000,000 outstanding shares. This repurchase authorization permits the closed-end fund to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB boosted its stake in shares of Franklin Templeton Investments by 12.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 169,337 shares of the closed-end fund’s stock worth $7,337,000 after acquiring an additional 18,806 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Franklin Templeton Investments by 3.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 64,923 shares of the closed-end fund’s stock worth $2,813,000 after acquiring an additional 2,128 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Franklin Templeton Investments in the fourth quarter worth approximately $113,000. MetLife Investment Advisors LLC acquired a new stake in shares of Franklin Templeton Investments in the fourth quarter worth approximately $4,381,000. Finally, Gotham Asset Management LLC boosted its stake in shares of Franklin Templeton Investments by 15.3% in the fourth quarter. Gotham Asset Management LLC now owns 84,880 shares of the closed-end fund’s stock worth $3,678,000 after acquiring an additional 11,250 shares during the last quarter. 46.94% of the stock is currently owned by hedge funds and other institutional investors.
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Franklin Templeton Investments 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.
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