Equities analysts predict that Franklin Resources, Inc. (NYSE:BEN) will post $0.66 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Franklin Resources’ earnings. The lowest EPS estimate is $0.61 and the highest is $0.71. Franklin Resources posted earnings per share of $0.79 in the same quarter last year, which would suggest a negative year over year growth rate of 16.5%. The firm is expected to issue its next quarterly earnings results on Thursday, October 24th.

On average, analysts expect that Franklin Resources will report full-year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.38 to $2.45. For the next year, analysts forecast that the business will report earnings of $2.76 per share, with EPS estimates ranging from $2.59 to $2.92. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Franklin Resources.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Tuesday, July 30th. The closed-end fund reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). Franklin Resources had a net margin of 23.80% and a return on equity of 13.43%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Franklin Resources’s quarterly revenue was down 5.3% compared to the same quarter last year.

A number of analysts have commented on BEN shares. Barclays reaffirmed a “sell” rating and set a $24.00 price objective on shares of Franklin Resources in a research note on Wednesday. BMO Capital Markets started coverage on shares of Franklin Resources in a research note on Monday. They set an “underperform” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. raised shares of Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 price objective for the company in a research note on Thursday, September 12th. Citigroup upped their price objective on shares of Franklin Resources from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley reduced their price objective on shares of Franklin Resources from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Sell” and an average target price of $29.35.

BEN stock traded up $0.01 during mid-day trading on Wednesday, reaching $26.29. 43,191 shares of the stock traded hands, compared to its average volume of 2,907,904. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.07. Franklin Resources has a 52-week low of $25.57 and a 52-week high of $35.82. The company has a market cap of $13.79 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.40 and a beta of 1.24. The stock’s fifty day moving average is $27.70 and its 200-day moving average is $32.11.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.26 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.96%. Franklin Resources’s dividend payout ratio is 32.60%.

In related news, EVP Craig Steven Tyle sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $26.01, for a total value of $130,050.00. Following the transaction, the executive vice president now owns 100,009 shares in the company, valued at $2,601,234.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its position in Franklin Resources by 232.6% during the second quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 507 shares during the period. Rational Advisors LLC boosted its position in Franklin Resources by 5,760.0% during the second quarter. Rational Advisors LLC now owns 879 shares of the closed-end fund’s stock worth $31,000 after purchasing an additional 864 shares during the period. Smith Asset Management Group LP bought a new stake in Franklin Resources during the second quarter worth approximately $32,000. Liberty Wealth Management LLC boosted its position in Franklin Resources by 3,680.0% during the second quarter. Liberty Wealth Management LLC now owns 1,134 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 1,104 shares during the period. Finally, TRUE Private Wealth Advisors bought a new stake in Franklin Resources during the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 50.46% 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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Earnings History and Estimates for Franklin Resources (NYSE:BEN)

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