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.
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.
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