FY2018 EPS Estimates for Franklin Resources, Inc. (BEN) Increased by Analyst
Franklin Resources, Inc. (NYSE:BEN) – Research analysts at Jefferies Group raised their FY2018 EPS estimates for Franklin Resources in a research note issued on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the closed-end fund will post earnings per share of $3.00 for the year, up from their previous estimate of $2.98. Jefferies Group currently has a “Hold” rating and a $44.00 price objective on the stock.
A number of other research analysts have also weighed in on BEN. BidaskClub raised Franklin Resources from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG increased their price objective on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a report on Thursday, July 6th. Morgan Stanley reissued an “underweight” rating and issued a $40.00 price objective (up from $39.00) on shares of Franklin Resources in a report on Monday, July 10th. Finally, Wells Fargo & Company lowered Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a report on Monday, July 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Franklin Resources presently has an average rating of “Hold” and a consensus target price of $44.36.
TRADEMARK VIOLATION WARNING: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/13/fy2018-eps-estimates-for-franklin-resources-inc-ben-increased-by-analyst.html. Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. Franklin Resources’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. Franklin Resources’s dividend payout ratio (DPR) is presently 26.14%.
A number of large investors have recently added to or reduced their stakes in BEN. BlackRock Inc. boosted its holdings in Franklin Resources by 1,550.0% in the first quarter. BlackRock Inc. now owns 21,119,419 shares of the closed-end fund’s stock valued at $889,973,000 after purchasing an additional 19,839,472 shares during the period. Vanguard Group Inc. boosted its holdings in Franklin Resources by 5.2% in the first quarter. Vanguard Group Inc. now owns 26,930,042 shares of the closed-end fund’s stock valued at $1,134,833,000 after purchasing an additional 1,337,903 shares during the period. Nordea Investment Management AB boosted its holdings in Franklin Resources by 70.2% in the second quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock valued at $75,684,000 after purchasing an additional 696,730 shares during the period. Ameriprise Financial Inc. boosted its holdings in Franklin Resources by 92.8% in the second quarter. Ameriprise Financial Inc. now owns 1,412,702 shares of the closed-end fund’s stock valued at $63,289,000 after purchasing an additional 680,059 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Franklin Resources by 1,908.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 492,000 shares of the closed-end fund’s stock valued at $22,037,000 after purchasing an additional 467,500 shares during the period. Hedge funds and other institutional investors own 44.96% of the company’s stock.
About Franklin Resources
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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