$1.48 Billion in Sales Expected for Franklin Resources, Inc. (NYSE:BEN) This Quarter

Wall Street analysts forecast that Franklin Resources, Inc. (NYSE:BEN) will announce sales of $1.48 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Franklin Resources’ earnings. The lowest sales estimate is $1.47 billion and the highest is $1.50 billion. Franklin Resources reported sales of $1.56 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, July 30th.

According to Zacks, analysts expect that Franklin Resources will report full-year sales of $5.84 billion for the current fiscal year, with estimates ranging from $5.82 billion to $5.86 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.98 billion, with estimates ranging from $5.83 billion to $6.09 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Franklin Resources.

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

Several equities analysts have issued reports on BEN shares. Bank of America set a $180.00 target price on shares of CME Group and gave the company a “hold” rating in a research note on Tuesday, April 9th. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $34.00 in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods cut shares of Franklin Resources from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $33.00 in a research note on Monday, April 29th. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research upgraded shares of IMI PLC/S from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $31.09.

In other news, EVP Craig Steven Tyle sold 10,924 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.04, for a total value of $350,004.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 23.90% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. MML Investors Services LLC bought a new stake in Franklin Resources during the 4th quarter worth approximately $226,000. One Wealth Advisors LLC purchased a new stake in Franklin Resources during the 4th quarter valued at approximately $273,000. BLB&B Advisors LLC grew its holdings in Franklin Resources by 5.4% during the 1st quarter. BLB&B Advisors LLC now owns 9,265 shares of the closed-end fund’s stock valued at $307,000 after buying an additional 475 shares in the last quarter. S&CO Inc. purchased a new stake in Franklin Resources during the 1st quarter valued at approximately $3,116,000. Finally, Brandywine Global Investment Management LLC grew its holdings in Franklin Resources by 87,881.9% during the 4th quarter. Brandywine Global Investment Management LLC now owns 329,932 shares of the closed-end fund’s stock valued at $9,786,000 after buying an additional 329,557 shares in the last quarter. Hedge funds and other institutional investors own 48.38% of the company’s stock.

BEN traded down $0.49 during midday trading on Friday, hitting $34.83. 3,088,200 shares of the company traded hands, compared to its average volume of 2,737,421. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.07. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.94 and a beta of 1.19. The firm has a 50-day moving average of $34.05. Franklin Resources has a 52 week low of $27.34 and a 52 week high of $35.82.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, June 27th. Franklin Resources’s dividend payout ratio (DPR) is presently 32.60%.

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.

Read More: Stop Order Uses For Individual Investors

Get a free copy of the Zacks research report on Franklin Resources (BEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.