Zacks: Analysts Expect Franklin Resources, Inc. (NYSE:BEN) to Announce $0.63 Earnings Per Share
Equities research analysts expect Franklin Resources, Inc. (NYSE:BEN) to report $0.63 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Franklin Resources’ earnings. The highest EPS estimate is $0.67 and the lowest is $0.58. Franklin Resources reported earnings per share of $0.75 during the same quarter last year, which suggests a negative year over year growth rate of 16%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, July 30th.
On average, analysts expect that Franklin Resources will report full year earnings of $2.59 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.68. For the next financial year, analysts forecast that the business will report earnings of $2.86 per share, with EPS estimates ranging from $2.72 to $3.11. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Franklin Resources.
Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, April 26th. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.08. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. Franklin Resources had a return on equity of 14.24% and a net margin of 26.10%. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS.
Shares of BEN traded down $0.18 during midday trading on Wednesday, reaching $35.01. The stock had a trading volume of 63,783 shares, compared to its average volume of 2,570,009. Franklin Resources has a 52 week low of $27.34 and a 52 week high of $35.82. 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 50 day moving average of $33.87. The firm has a market cap of $17.86 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.94 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.04 annualized dividend and a dividend yield of 2.97%. Franklin Resources’s dividend payout ratio is presently 32.60%.
In related news, EVP Craig Steven Tyle sold 10,924 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.04, for a total transaction of $350,004.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 23.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of BEN. Bank of America Corp DE lifted its position in shares of Franklin Resources by 526.8% during the 4th quarter. Bank of America Corp DE now owns 6,705,633 shares of the closed-end fund’s stock worth $198,889,000 after purchasing an additional 5,635,864 shares during the last quarter. London Co. of Virginia acquired a new position in shares of Franklin Resources during the 4th quarter worth about $107,975,000. Norges Bank acquired a new position in shares of Franklin Resources during the 4th quarter worth about $100,182,000. O Shaughnessy Asset Management LLC lifted its position in shares of Franklin Resources by 93.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,420,367 shares of the closed-end fund’s stock worth $46,994,000 after purchasing an additional 686,589 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new position in Franklin Resources in the 1st quarter valued at approximately $17,112,000. 48.38% of the stock is owned by institutional investors and hedge funds.
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.
See Also: Exchange-Traded Funds (ETFs)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.