Analysts Set Franklin Resources, Inc. (BEN) Target Price at $36.18
Franklin Resources, Inc. (NYSE:BEN) has been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.18.
A number of equities analysts have commented on BEN shares. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $32.00 to $29.00 in a report on Thursday, September 6th. Morgan Stanley dropped their target price on shares of Franklin Resources from $33.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, July 12th. Zacks Investment Research downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays dropped their target price on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. Finally, 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 research report on Thursday, August 16th.
In other news, EVP Craig Steven Tyle sold 11,165 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total value of $350,022.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.20% of the stock is currently owned by insiders.
Shares of BEN stock opened at $31.92 on Wednesday. Franklin Resources has a 12 month low of $29.95 and a 12 month high of $45.96. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.63 and a beta of 1.52.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, July 27th. The closed-end fund reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. sell-side analysts forecast that Franklin Resources will post 3.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 27th. Franklin Resources’s payout ratio is currently 30.56%.
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.
Featured Story: What Is An Exchange-Traded Fund (ETF)?
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.