Equities analysts forecast that Franklin Resources, Inc. (NYSE:BEN) will announce sales of $1.63 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Franklin Resources’ earnings, with the highest sales estimate coming in at $1.64 billion and the lowest estimate coming in at $1.63 billion. Franklin Resources reported sales of $1.56 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The firm is scheduled to announce its next quarterly earnings report on Friday, January 26th.
According to Zacks, analysts expect that Franklin Resources will report full-year sales of $1.63 billion for the current fiscal year, with estimates ranging from $6.42 billion to $6.63 billion. For the next financial year, analysts expect that the company will post sales of $6.67 billion per share, with estimates ranging from $6.33 billion to $6.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Franklin Resources.
Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a return on equity of 13.60% and a net margin of 26.54%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS.
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Shares of Franklin Resources (BEN) traded down $0.08 during midday trading on Wednesday, reaching $40.48. The company’s stock had a trading volume of 1,830,000 shares, compared to its average volume of 2,310,000. The company has a debt-to-equity ratio of 0.11, a current ratio of 9.20 and a quick ratio of 9.20. The company has a market cap of $22,380.00, a PE ratio of 13.61, a PEG ratio of 1.40 and a beta of 1.74. Franklin Resources has a 1-year low of $38.54 and a 1-year high of $47.65.
In other Franklin Resources news, Chairman Gregory E. Johnson sold 56,825 shares of Franklin Resources stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the sale, the chairman now owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 21.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. JPMorgan Chase & Co. raised its stake in shares of Franklin Resources by 225.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,153,748 shares of the closed-end fund’s stock valued at $140,499,000 after buying an additional 2,184,863 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Franklin Resources by 138.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,372,129 shares of the closed-end fund’s stock valued at $150,106,000 after buying an additional 1,959,427 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of Franklin Resources by 57.3% during the 3rd quarter. APG Asset Management N.V. now owns 3,906,627 shares of the closed-end fund’s stock valued at $173,884,000 after buying an additional 1,422,900 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Franklin Resources by 35.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after buying an additional 1,288,818 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Franklin Resources by 70.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock valued at $75,684,000 after buying an additional 696,730 shares during the last quarter. Institutional investors and hedge funds own 46.01% of the company’s stock.
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.
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