Wall Street brokerages forecast that Franklin Resources, Inc. (NYSE:BEN) will announce earnings per share (EPS) of $0.74 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Franklin Resources’ earnings. The lowest EPS estimate is $0.71 and the highest is $0.75. Franklin Resources posted earnings of $0.76 per share during the same quarter last year, which would indicate a negative year over year growth rate of 2.6%. The business is expected to report its next earnings results before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Franklin Resources will report full-year earnings of $3.14 per share for the current financial year, with EPS estimates ranging from $3.11 to $3.16. For the next financial year, analysts anticipate that the firm will report earnings of $3.00 per share, with EPS estimates ranging from $2.79 to $3.12. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Franklin Resources.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, July 27th. The closed-end fund reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.57 billion. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share.

Several research firms have commented on BEN. Barclays dropped their price objective on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Monday, July 30th. Wells Fargo & Co dropped their price objective on shares of Franklin Resources from $35.00 to $34.00 and set a “market perform” rating on the stock in a report on Monday, July 30th. Zacks Investment Research raised shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a report on Friday, August 24th. Morgan Stanley dropped their price objective on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, August 2nd. Finally, Deutsche Bank dropped their price objective on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, August 16th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $35.75.

NYSE BEN remained flat at $$28.54 during trading on Friday. 3,658,521 shares of the company’s stock traded hands, compared to its average volume of 3,431,137. The stock has a market capitalization of $16.03 billion, a P/E ratio of 9.48, a PEG ratio of 1.58 and a beta of 1.49. Franklin Resources has a 1-year low of $28.12 and a 1-year high of $45.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 3.37.

The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Thursday, September 27th. Franklin Resources’s dividend payout ratio is presently 30.56%.

In other news, EVP Craig Steven Tyle sold 11,165 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jed A. Plafker sold 4,820 shares of the company’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 sale, the insider now owns 56,369 shares in the company, valued at $1,851,721.65. The disclosure for this sale can be found here. Corporate insiders own 22.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BEN. Captrust Financial Advisors increased its position in shares of Franklin Resources by 605.1% during the second quarter. Captrust Financial Advisors now owns 3,187 shares of the closed-end fund’s stock valued at $103,000 after buying an additional 2,735 shares during the period. Focused Wealth Management Inc bought a new position in shares of Franklin Resources in the second quarter worth approximately $131,000. Dupont Capital Management Corp increased its position in shares of 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 purchasing an additional 1,582 shares during the last quarter. IMS Capital Management bought a new position in shares of Franklin Resources in the second quarter worth approximately $161,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Franklin Resources in the second quarter worth approximately $192,000. Hedge funds and other institutional investors own 46.82% 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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