Franklin Resources, Inc. (BEN) Expected to Announce Earnings of $0.63 Per Share

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Analysts forecast that Franklin Resources, Inc. (NYSE:BEN) will announce earnings per share of $0.63 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Franklin Resources’ earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.57. Franklin Resources reported earnings per share of $0.75 during the same quarter last year, which would suggest a negative year over year growth rate of 16%. The company is scheduled to issue its next quarterly earnings report on Friday, July 26th.

On average, analysts expect that Franklin Resources will report full year earnings of $2.58 per share for the current year, with EPS estimates ranging from $2.48 to $2.68. For the next financial year, analysts expect that the business will report earnings of $2.84 per share, with EPS estimates ranging from $2.64 to $3.11. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Franklin Resources.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, April 26th. The closed-end fund reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Franklin Resources had a return on equity of 14.24% and a net margin of 26.10%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s quarterly revenue was down 11.4% compared to the same quarter last year.

Several equities research analysts have commented on the company. Citigroup upgraded Franklin Resources from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $28.00 to $35.00 in a research report on Monday, April 15th. Keefe, Bruyette & Woods lowered Franklin Resources from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $34.00 to $33.00 in a research report on Monday, April 29th. Bank of America set a $32.00 price objective on Franklin Resources and gave the stock a “sell” rating in a research report on Tuesday, April 9th. TheStreet upgraded Franklin Resources from a “c+” rating to a “b” rating in a research report on Friday, April 26th. Finally, Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Wednesday, April 3rd. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $30.55.

In other news, EVP Craig Steven Tyle sold 10,663 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $32.82, for a total transaction of $349,959.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc raised its stake in Franklin Resources by 17.1% in the 3rd quarter. Vanguard Group Inc now owns 32,666,942 shares of the closed-end fund’s stock valued at $993,402,000 after purchasing an additional 4,764,162 shares during the last quarter. BlackRock Inc. raised its stake in Franklin Resources by 2.9% in the 4th quarter. BlackRock Inc. now owns 23,139,023 shares of the closed-end fund’s stock valued at $686,304,000 after purchasing an additional 646,242 shares during the last quarter. Pzena Investment Management LLC raised its stake in Franklin Resources by 4.8% in the 4th quarter. Pzena Investment Management LLC now owns 9,396,639 shares of the closed-end fund’s stock valued at $278,704,000 after purchasing an additional 434,347 shares during the last quarter. Kiltearn Partners LLP raised its stake in Franklin Resources by 4.6% in the 4th quarter. Kiltearn Partners LLP now owns 8,460,294 shares of the closed-end fund’s stock valued at $250,932,000 after purchasing an additional 370,500 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Franklin Resources by 526.8% in the 4th quarter. Bank of America Corp DE now owns 6,705,633 shares of the closed-end fund’s stock valued at $198,889,000 after purchasing an additional 5,635,864 shares during the last quarter. 48.40% of the stock is owned by institutional investors and hedge funds.

Franklin Resources stock traded up $0.12 during mid-day trading on Friday, hitting $33.28. The company had a trading volume of 1,639,212 shares, compared to its average volume of 2,766,382. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.07. Franklin Resources has a 12-month low of $27.34 and a 12-month high of $35.82. The firm has a market cap of $16.89 billion, a PE ratio of 10.43, a P/E/G ratio of 1.87 and a beta of 1.18.

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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