Franklin Resources, Inc. Expected to Post Q2 2018 Earnings of $0.80 Per Share (BEN)
Franklin Resources, Inc. (NYSE:BEN) – Investment analysts at Jefferies Group issued their Q2 2018 earnings estimates for Franklin Resources in a research report issued to clients and investors on Wednesday. Jefferies Group analyst D. Fannon expects that the closed-end fund will earn $0.80 per share for the quarter. Jefferies Group also issued estimates for Franklin Resources’ Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $3.22 EPS, Q1 2019 earnings at $0.83 EPS and FY2019 earnings at $3.46 EPS.
BEN has been the topic of a number of other reports. ValuEngine lowered Franklin Resources from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Wells Fargo & Co decreased their price objective on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a report on Thursday, October 12th. Finally, UBS Group upped their price objective on Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $44.45.
Franklin Resources (NYSE:BEN) traded up $0.59 during mid-day trading on Thursday, hitting $44.53. The company had a trading volume of 1,996,244 shares, compared to its average volume of 1,883,886. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75. The firm has a market cap of $24,294.94, a price-to-earnings ratio of 14.84, a PEG ratio of 1.53 and a beta of 1.75. Franklin Resources has a 1-year low of $39.38 and a 1-year high of $47.65.
Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, December 22nd. Franklin Resources’s dividend payout ratio is currently 30.67%.
In other news, Chairman Gregory E. Johnson sold 56,825 shares of the stock in a transaction on 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 sale, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jed A. Plafker sold 7,790 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,603 shares of company stock worth $22,134,429. Insiders own 22.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BEN. JPMorgan Chase & Co. grew its holdings in shares of Franklin Resources by 35.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,885 shares of the closed-end fund’s stock worth $43,395,000 after purchasing an additional 252,165 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Franklin Resources by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 1,095,039 shares of the closed-end fund’s stock worth $49,047,000 after purchasing an additional 4,971 shares in the last quarter. Aberdeen Asset Management PLC UK grew its holdings in shares of Franklin Resources by 22.9% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 107,728 shares of the closed-end fund’s stock worth $4,826,000 after purchasing an additional 20,060 shares in the last quarter. Martingale Asset Management L P acquired a new stake in shares of Franklin Resources during the 2nd quarter worth $607,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Franklin Resources by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,244 shares of the closed-end fund’s stock worth $235,000 after purchasing an additional 116 shares in the last quarter. 44.72% of the stock is currently owned by institutional investors.
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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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