Franklin Resources, Inc. (BEN) to Post Q2 2019 Earnings of $0.86 Per Share, Jefferies Group Forecasts

Franklin Resources, Inc. (NYSE:BEN) – Equities researchers at Jefferies Group issued their Q2 2019 earnings estimates for Franklin Resources in a research report issued to clients and investors on Wednesday. Jefferies Group analyst D. Fannon forecasts that the closed-end fund will post earnings of $0.86 per share for the quarter. Jefferies Group also issued estimates for Franklin Resources’ Q3 2019 earnings at $0.88 EPS and Q4 2019 earnings at $0.90 EPS.

Several other research analysts have also recently commented on the stock. Wells Fargo & Co lowered their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 27th. ValuEngine cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Monday, October 30th. UBS Group boosted their price target on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Finally, Citigroup lowered their price target on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.45.

Franklin Resources (BEN) traded up $0.59 during midday trading on Friday, reaching $44.53. 1,996,244 shares of the company’s stock traded hands, compared to its average volume of 2,480,411. The company has a quick ratio of 8.75, a current ratio of 8.75 and a debt-to-equity ratio of 0.08. Franklin Resources has a 12 month low of $39.38 and a 12 month high of $47.65. The firm has a market cap of $24,540.00, a PE ratio of 14.79, a PEG ratio of 2.33 and a beta of 1.75.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. Franklin Resources had a net margin of 29.47% and a return on equity of 13.55%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The firm’s revenue was up .3% on a year-over-year basis.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th were issued a $0.23 dividend. This is a boost from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $0.92 annualized dividend and a dividend yield of 2.07%. Franklin Resources’s dividend payout ratio is presently 30.56%.

In other news, Chairman Gregory E. Johnson sold 49,988 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $43.58, for a total value of $2,178,477.04. Following the completion of the transaction, the chairman now owns 2,116,886 shares in the company, valued at approximately $92,253,891.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Gregory E. Johnson sold 56,825 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the transaction, the chairman now owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,603 shares of company stock valued at $22,134,429. Company insiders own 22.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Mountain Capital Investment Advisors Inc purchased a new stake in Franklin Resources in the 2nd quarter valued at $123,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Franklin Resources in the 3rd quarter valued at $127,000. Chicago Equity Partners LLC purchased a new stake in Franklin Resources in the 3rd quarter valued at $209,000. Highbridge Capital Management LLC purchased a new stake in Franklin Resources in the 3rd quarter valued at $210,000. Finally, Colony Group LLC purchased a new stake in Franklin Resources in the 2nd quarter valued at $212,000. Institutional investors and hedge funds own 44.72% of the company’s stock.

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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.

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

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