Franklin Resources (BEN) to Release Quarterly Earnings on Monday

Franklin Resources (NYSE:BEN) is scheduled to be posting its quarterly earnings results before the market opens on Monday, April 29th. Analysts expect Franklin Resources to post earnings of $0.58 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, analysts expect Franklin Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Franklin Resources Stock Down 0.4 %

Franklin Resources stock opened at $24.99 on Friday. Franklin Resources has a twelve month low of $21.88 and a twelve month high of $30.32. The stock’s fifty day simple moving average is $26.87 and its 200-day simple moving average is $26.33. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $13.16 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.32 and a beta of 1.40.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin Resources’s dividend payout ratio is currently 65.26%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BEN. UBS Group upped their price objective on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. BMO Capital Markets increased their target price on Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. TD Cowen started coverage on Franklin Resources in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Wells Fargo & Company raised Franklin Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $24.00 to $30.00 in a report on Monday, January 8th. Finally, Morgan Stanley increased their target price on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average price target of $27.50.

About Franklin Resources

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.