Franklin Resources, Inc. Expected to Earn Q2 2019 Earnings of $0.64 Per Share (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) – Jefferies Financial Group increased their Q2 2019 earnings per share estimates for Franklin Resources in a research report issued on Monday, April 8th, Zacks Investment Research reports. Jefferies Financial Group analyst D. Fannon now expects that the closed-end fund will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.59. Jefferies Financial Group has a “Hold” rating and a $30.00 price objective on the stock. Jefferies Financial Group also issued estimates for Franklin Resources’ Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.69 EPS, FY2019 earnings at $2.54 EPS and FY2020 earnings at $2.81 EPS.

A number of other research analysts have also issued reports on BEN. TheStreet raised Franklin Resources from a “c+” rating to a “b” rating in a report on Friday, April 26th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Wednesday, April 3rd. Bank of America set a $32.00 target price on Franklin Resources and gave the stock a “sell” rating in a report on Tuesday, April 9th. Citigroup raised Franklin Resources from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $35.00 in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 target price on shares of Franklin Resources in a report on Tuesday, February 26th. Seven 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. Franklin Resources currently has a consensus rating of “Hold” and an average target price of $30.55.

NYSE:BEN traded up $0.34 during mid-day trading on Thursday, reaching $34.65. 2,253,924 shares of the stock were exchanged, compared to its average volume of 2,809,868. The firm has a market cap of $17.59 billion, a P/E ratio of 10.86, a PEG ratio of 1.94 and a beta of 1.18. Franklin Resources has a 1-year low of $27.34 and a 1-year high of $35.82. The company has a quick ratio of 3.93, a current ratio of 3.54 and a debt-to-equity ratio of 0.07.

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

Several large investors have recently added to or reduced their stakes in BEN. Vigilant Capital Management LLC acquired a new stake in Franklin Resources during the 1st quarter worth about $39,000. Alpha Omega Wealth Management LLC boosted its position in Franklin Resources by 120.8% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 1,325 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 725 shares during the period. Clean Yield Group acquired a new stake in Franklin Resources during the 4th quarter worth about $44,000. Investors Research Corp acquired a new stake in Franklin Resources during the 1st quarter worth about $56,000. Finally, CWM LLC boosted its position in Franklin Resources by 22.5% during the 4th quarter. CWM LLC now owns 1,772 shares of the closed-end fund’s stock worth $53,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 49.52% of the company’s stock.

In related news, EVP Craig Steven Tyle sold 10,663 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.82, for a total value of $349,959.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.20% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.26 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.00%. Franklin Resources’s dividend payout ratio (DPR) is 32.60%.

Franklin Resources Company Profile

Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Earnings History and Estimates for Franklin Resources (NYSE:BEN)

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