Franklin Resources (NYSE:BEN) Issues Earnings Results, Beats Expectations By $0.03 EPS

Franklin Resources (NYSE:BENGet Free Report) issued its quarterly earnings data on Friday. The closed-end fund reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03, Zacks reports. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%.

Franklin Resources Price Performance

Shares of NYSE BEN traded up $1.85 during mid-day trading on Friday, reaching $22.00. The company had a trading volume of 8,043,915 shares, compared to its average volume of 3,900,614. The company has a 50-day moving average price of $20.85 and a two-hundred day moving average price of $21.01. The stock has a market cap of $11.52 billion, a PE ratio of 25.60, a P/E/G ratio of 1.35 and a beta of 1.41. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. Franklin Resources has a 1-year low of $18.83 and a 1-year high of $28.61.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Monday, December 30th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 5.82%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. Franklin Resources’s dividend payout ratio is presently 148.84%.

Wall Street Analysts Forecast Growth

BEN has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $19.00 target price (down from $20.00) on shares of Franklin Resources in a research report on Tuesday, November 5th. Evercore ISI reduced their target price on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating on the stock in a report on Friday, October 4th. Finally, Barclays dropped their price target on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.18.

View Our Latest Stock Report on Franklin Resources

Franklin Resources Company Profile

(Get Free Report)

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 for Franklin Resources (NYSE:BEN)

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