Zacks Research Issues Pessimistic Forecast for BEN Earnings

Franklin Resources, Inc. (NYSE:BEN) – Research analysts at Zacks Research lowered their FY2027 earnings per share (EPS) estimates for shares of Franklin Resources in a note issued to investors on Wednesday, June 25th. Zacks Research analyst R. Department now expects that the closed-end fund will earn $2.67 per share for the year, down from their previous forecast of $2.69. The consensus estimate for Franklin Resources’ current full-year earnings is $2.16 per share.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Franklin Resources had a return on equity of 9.13% and a net margin of 4.65%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis.

BEN has been the subject of a number of other reports. Morgan Stanley reduced their price target on shares of Franklin Resources from $18.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, April 7th. Cowen reaffirmed a “buy” rating on shares of Franklin Resources in a research report on Monday, June 16th. Bank of America decreased their target price on Franklin Resources from $20.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Evercore ISI lowered their price target on Franklin Resources from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, April 11th. Finally, Barclays upped their price target on Franklin Resources from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Franklin Resources presently has an average rating of “Hold” and a consensus price target of $20.25.

Franklin Resources Trading Up 1.2%

Shares of Franklin Resources stock opened at $23.49 on Thursday. Franklin Resources has a 1 year low of $16.25 and a 1 year high of $24.37. The company’s fifty day simple moving average is $21.18 and its 200-day simple moving average is $20.32. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 3.13 and a beta of 1.43. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93.

Hedge Funds Weigh In On Franklin Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. CoreCap Advisors LLC raised its stake in Franklin Resources by 147.1% during the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock worth $25,000 after acquiring an additional 737 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock valued at $26,000 after purchasing an additional 981 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Franklin Resources by 49.9% in the 1st quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund’s stock worth $32,000 after purchasing an additional 555 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Franklin Resources during the 4th quarter worth about $34,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.45%. Franklin Resources’s payout ratio is presently 188.24%.

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.