Positive Press Coverage Somewhat Likely to Impact Franklin Resources (NYSE:BEN) Stock Price
Headlines about Franklin Resources (NYSE:BEN) have been trending positive this week, according to Accern. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Franklin Resources earned a news sentiment score of 0.41 on Accern’s scale. Accern also gave headlines about the closed-end fund an impact score of 63 out of 100, indicating that recent media coverage is somewhat likely to have an effect on the stock’s share price in the immediate future.
Here are some of the news headlines that may have effected Accern’s analysis:
- Critical Contrast: State Street Corporation (STT) versus Franklin Resources (NYSE:BEN) (americanbankingnews.com)
- Schwab Charles Investment Management Inc Buys A Lot More Franklin Resources, Inc. (BEN) Stock Last Quarter (highlightpress.com)
- US Silica Holdings, Inc. (SLCA) noted a price change of -9.06% and Franklin Resources, Inc. (BEN) closes with a move … – Stocks Gallery (stocksgallery.com)
- Franklin Resources, Inc. :BEN-US: Earnings Analysis: Q3, 2017 By the Numbers : August 2, 2017 (finance.yahoo.com)
- Financial Analysis: Goldman Sachs BDC (GSBD) & Franklin Resources (BEN) (americanbankingnews.com)
A number of equities research analysts recently issued reports on BEN shares. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “strong-buy” rating and set a $50.00 target price on the stock in a research note on Wednesday, May 17th. BidaskClub raised Franklin Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Deutsche Bank AG increased their price target on Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, April 6th. Citigroup Inc. reissued a “neutral” rating and set a $43.00 price target (up previously from $42.00) on shares of Franklin Resources in a research note on Friday, June 9th. Finally, Credit Suisse Group reissued a “sell” rating and set a $37.00 price target on shares of Franklin Resources in a research note on Friday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.18.
Shares of Franklin Resources (NYSE BEN) traded down 0.25% during mid-day trading on Thursday, reaching $43.83. The company had a trading volume of 1,271,709 shares. Franklin Resources has a 52-week low of $33.02 and a 52-week high of $47.65. The company’s 50-day moving average is $45.30 and its 200 day moving average is $42.79. The stock has a market capitalization of $24.44 billion, a P/E ratio of 14.28 and a beta of 1.73.
Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Franklin Resources had a net margin of 27.30% and a return on equity of 14.04%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the firm earned $0.77 earnings per share. Franklin Resources’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts anticipate that Franklin Resources will post $2.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, June 28th. Franklin Resources’s dividend payout ratio is 26.14%.
In other Franklin Resources news, CFO Kenneth A. Lewis sold 17,141 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $44.51, for a total value of $762,945.91. Following the transaction, the chief financial officer now directly owns 124,021 shares of the company’s stock, valued at approximately $5,520,174.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.60% of the stock is currently owned by company insiders.
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Franklin Resources Company Profile
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.
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