Zacks: Analysts Anticipate Franklin Resources, Inc. (BEN) to Announce $0.73 Earnings Per Share

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Equities research analysts expect that Franklin Resources, Inc. (NYSE:BEN) will announce earnings of $0.73 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Franklin Resources’ earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.71. Franklin Resources posted earnings per share of $0.88 during the same quarter last year, which suggests a negative year-over-year growth rate of 17%. The business is expected to announce its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that Franklin Resources will report full-year earnings of $2.81 per share for the current year, with EPS estimates ranging from $2.65 to $2.90. For the next year, analysts forecast that the company will report earnings of $2.88 per share, with EPS estimates ranging from $2.72 to $3.07. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Franklin Resources.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Thursday, October 25th. The closed-end fund reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.39. Franklin Resources had a return on equity of 16.26% and a net margin of 12.10%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion.

A number of equities research analysts recently commented on BEN shares. Zacks Investment Research raised Franklin Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, August 24th. JPMorgan Chase & Co. cut Franklin Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $32.00 to $29.00 in a research note on Thursday, September 6th. Deutsche Bank lifted their price objective on Franklin Resources from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, September 27th. UBS Group decreased their price objective on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. Finally, Credit Suisse Group decreased their price objective on Franklin Resources from $28.00 to $26.00 and set an “underperform” rating for the company in a research note on Friday, October 26th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.18.

Shares of Franklin Resources stock opened at $29.96 on Friday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.07. Franklin Resources has a 12 month low of $28.12 and a 12 month high of $45.96. The firm has a market cap of $15.62 billion, a P/E ratio of 9.39, a P/E/G ratio of 1.28 and a beta of 1.30.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, December 28th. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 3.47%. Franklin Resources’s payout ratio is currently 28.84%.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,216 shares of Franklin Resources stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $34.26, for a total transaction of $350,000.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jed A. Plafker sold 4,820 shares of Franklin Resources stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $32.85, for a total value of $158,337.00. Following the transaction, 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. Over the last quarter, insiders have sold 338,036 shares of company stock worth $10,979,997. Corporate insiders own 22.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Franklin Resources by 28.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,683 shares of the closed-end fund’s stock worth $246,000 after acquiring an additional 1,683 shares in the last quarter. Global X Management Co LLC lifted its holdings in shares of Franklin Resources by 29.6% in the second quarter. Global X Management Co LLC now owns 7,586 shares of the closed-end fund’s stock valued at $243,000 after purchasing an additional 1,733 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of Franklin Resources by 8.9% in the third quarter. Norinchukin Bank The now owns 21,628 shares of the closed-end fund’s stock valued at $658,000 after purchasing an additional 1,776 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Franklin Resources by 14.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 14,685 shares of the closed-end fund’s stock valued at $447,000 after purchasing an additional 1,884 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Franklin Resources by 3.3% in the third quarter. First Republic Investment Management Inc. now owns 63,262 shares of the closed-end fund’s stock valued at $1,924,000 after purchasing an additional 1,999 shares in the last quarter. Hedge funds and other institutional investors own 47.82% 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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