Franklin Resources (BEN) to Release Earnings on Monday

Franklin Resources (NYSE:BEN) is scheduled to be releasing its earnings data before the market opens on Monday, April 29th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. On average, analysts expect Franklin Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $25.15 on Monday. The business has a fifty day moving average price of $27.06 and a two-hundred day moving average price of $26.32. The stock has a market capitalization of $13.24 billion, a PE ratio of 13.24, a P/E/G ratio of 1.31 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92. Franklin Resources has a fifty-two week low of $21.88 and a fifty-two week high of $30.32.

Franklin Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.24 annualized dividend and a yield of 4.93%. Franklin Resources’s dividend payout ratio is currently 65.26%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Resurgent Financial Advisors LLC acquired a new position in shares of Franklin Resources in the 4th quarter worth approximately $27,000. Eagle Bay Advisors LLC acquired a new position in shares of Franklin Resources in the 2nd quarter worth approximately $26,000. First Capital Advisors Group LLC. acquired a new position in shares of Franklin Resources in the 2nd quarter worth approximately $30,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Franklin Resources during the 1st quarter valued at $41,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Franklin Resources during the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $24.00 to $30.00 in a report on Monday, January 8th. BMO Capital Markets increased their price objective on shares of Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. TD Cowen began coverage on shares of Franklin Resources in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.50.

About Franklin Resources

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.