Jefferies Financial Group Brokers Lower Earnings Estimates for Franklin Resources, Inc. (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) – Equities research analysts at Jefferies Financial Group dropped their Q4 2020 earnings per share estimates for shares of Franklin Resources in a research note issued on Tuesday, July 28th. Jefferies Financial Group analyst D. Fannon now anticipates that the closed-end fund will earn $0.55 per share for the quarter, down from their previous forecast of $0.56. Jefferies Financial Group also issued estimates for Franklin Resources’ Q1 2021 earnings at $0.54 EPS, Q4 2021 earnings at $0.54 EPS, FY2021 earnings at $2.13 EPS and FY2022 earnings at $2.15 EPS.

Several other research analysts have also recently commented on BEN. Deutsche Bank reduced their target price on Franklin Resources from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, May 15th. Barclays reissued a “sell” rating and set a $19.00 price objective on shares of Franklin Resources in a report on Friday, July 17th. UBS Group cut their price objective on Franklin Resources from $27.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Citigroup lifted their price objective on Franklin Resources from $20.00 to $22.75 and gave the company a “neutral” rating in a report on Thursday. Finally, Cfra cut their price objective on Franklin Resources from $29.00 to $20.00 and set a “hold” rating for the company in a report on Friday, May 1st. Seven research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.27.

Shares of BEN stock opened at $21.05 on Friday. The stock has a market cap of $10.24 billion, a P/E ratio of 10.22 and a beta of 1.27. Franklin Resources has a one year low of $14.91 and a one year high of $33.85. The stock has a fifty day moving average price of $21.07 and a 200 day moving average price of $20.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.20 and a quick ratio of 3.90.

Franklin Resources (NYSE:BEN) last issued its earnings results on Tuesday, July 28th. The closed-end fund reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Franklin Resources had a return on equity of 12.39% and a net margin of 19.04%. Franklin Resources’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share.

Large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in shares of Franklin Resources in the fourth quarter valued at $3,118,000. WASHINGTON TRUST Co acquired a new stake in Franklin Resources in the first quarter worth about $25,000. Signaturefd LLC increased its position in Franklin Resources by 100.7% in the first quarter. Signaturefd LLC now owns 2,437 shares of the closed-end fund’s stock worth $41,000 after purchasing an additional 1,223 shares during the period. Cerebellum GP LLC acquired a new stake in Franklin Resources in the second quarter worth about $125,000. Finally, Trust Co. of Vermont increased its position in Franklin Resources by 1,040.0% in the second quarter. Trust Co. of Vermont now owns 3,420 shares of the closed-end fund’s stock worth $72,000 after purchasing an additional 3,120 shares during the period. Institutional investors own 48.47% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.13%. Franklin Resources’s dividend payout ratio (DPR) is presently 42.86%.

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

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