Jefferies Financial Group Equities Analysts Decrease Earnings Estimates for Franklin Resources, Inc. (BEN)

Franklin Resources, Inc. (NYSE:BEN) – Research analysts at Jefferies Financial Group cut their Q1 2019 earnings per share (EPS) estimates for shares of Franklin Resources in a research report issued to clients and investors on Monday, December 3rd. Jefferies Financial Group analyst D. Fannon now anticipates that the closed-end fund will post earnings per share of $0.71 for the quarter, down from their prior estimate of $0.74. Jefferies Financial Group also issued estimates for Franklin Resources’ Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.72 EPS, Q4 2019 earnings at $0.74 EPS, FY2019 earnings at $2.85 EPS and FY2020 earnings at $3.07 EPS.

Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.39. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.26%.

A number of other analysts have also weighed in on BEN. Deutsche Bank dropped their target price on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a report on Friday, August 24th. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $29.00 in a report on Thursday, September 6th. UBS Group dropped their target price on shares of Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Finally, Credit Suisse Group dropped their target price on shares of Franklin Resources from $28.00 to $26.00 and set an “underperform” rating for the company in a report on Friday, October 26th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $34.18.

Franklin Resources stock opened at $32.53 on Wednesday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.07 billion, a PE ratio of 10.06, a PEG ratio of 1.17 and a beta of 1.30. Franklin Resources has a 1-year low of $28.12 and a 1-year high of $45.96.

In other Franklin Resources news, insider Jed A. Plafker sold 4,820 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $32.85, for a total value of $158,337.00. Following the completion of the sale, the insider now directly owns 56,369 shares in the company, valued at $1,851,721.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $32.42, for a total transaction of $10,471,660.00. Following the completion of the sale, the insider now owns 103,653,045 shares of the company’s stock, valued at $3,360,431,718.90. The disclosure for this sale can be found here. Insiders sold 338,036 shares of company stock valued at $10,979,997 over the last 90 days. 22.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp lifted its holdings in Franklin Resources by 61.2% in the second quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock worth $134,000 after buying an additional 1,582 shares during the period. IFG Advisory LLC lifted its holdings in shares of Franklin Resources by 9.8% during the second quarter. IFG Advisory LLC now owns 18,830 shares of the closed-end fund’s stock valued at $603,000 after purchasing an additional 1,676 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Franklin Resources by 28.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,683 shares of the closed-end fund’s stock valued at $246,000 after purchasing an additional 1,683 shares during the last quarter. Global X Management Co LLC lifted its holdings in shares of Franklin Resources by 29.6% during the second quarter. Global X Management Co LLC now owns 7,586 shares of the closed-end fund’s stock valued at $243,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of Franklin Resources by 8.9% during the third quarter. Norinchukin Bank The now owns 21,628 shares of the closed-end fund’s stock valued at $658,000 after purchasing an additional 1,776 shares during the last quarter. Institutional investors and hedge funds own 47.83% 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.

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Earnings History and Estimates for Franklin Resources (NYSE:BEN)

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