Franklin Resources, Inc. (BEN) Expected to Announce Earnings of $0.71 Per Share
Equities research analysts predict that Franklin Resources, Inc. (NYSE:BEN) will report earnings per share of $0.71 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Franklin Resources’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.70. Franklin Resources posted earnings of $0.82 per share during the same quarter last year, which would indicate a negative year over year growth rate of 13.4%. The business is scheduled to announce its next earnings report on Wednesday, October 25th.
On average, analysts expect that Franklin Resources will report full-year earnings of $2.96 per share for the current financial year, with EPS estimates ranging from $2.95 to $2.97. For the next year, analysts forecast that the firm will post earnings of $2.90 per share, with EPS estimates ranging from $2.80 to $2.98. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Franklin Resources.
Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis.
A number of analysts recently commented on BEN shares. BidaskClub downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. UBS AG reissued a “neutral” rating and set a $45.00 price objective (down previously from $46.00) on shares of Franklin Resources in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price objective on shares of Franklin Resources in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, August 1st. Finally, Morgan Stanley reissued an “underweight” rating and set a $40.00 price objective (up previously from $39.00) on shares of Franklin Resources in a report on Monday, July 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Franklin Resources presently has an average rating of “Hold” and an average target price of $44.09.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Conning Inc. raised its position in Franklin Resources by 0.9% during the second quarter. Conning Inc. now owns 8,696 shares of the closed-end fund’s stock worth $389,000 after acquiring an additional 80 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Franklin Resources by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 40,840 shares of the closed-end fund’s stock worth $1,721,000 after acquiring an additional 104 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Franklin Resources by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,244 shares of the closed-end fund’s stock worth $235,000 after acquiring an additional 116 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its position in Franklin Resources by 0.9% during the first quarter. Nicholas Hoffman & Company LLC. now owns 13,835 shares of the closed-end fund’s stock worth $583,000 after acquiring an additional 130 shares during the last quarter. Finally, NGAM Advisors L.P. raised its position in Franklin Resources by 0.6% during the second quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock worth $1,134,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 44.96% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, September 28th. Franklin Resources’s payout ratio is currently 26.14%.
About Franklin Resources
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.