Franklin Resources (BEN) Expected to Announce Quarterly Earnings on Friday

Franklin Resources (NYSE:BEN) will likely be announcing its earnings results before the market opens on Friday, January 31st. Analysts expect the company to announce earnings of $0.56 per share and revenue of $2.49 billion 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 announced its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $1.70 billion. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. On average, analysts expect Franklin Resources to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Franklin Resources Price Performance

Shares of BEN opened at $20.07 on Thursday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 23.34, a P/E/G ratio of 1.28 and a beta of 1.41. Franklin Resources has a twelve month low of $18.83 and a twelve month high of $28.61. The company has a 50 day moving average of $20.92 and a 200-day moving average of $21.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92.

Franklin Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Monday, December 30th were issued a $0.32 dividend. This is a boost from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.28 annualized dividend and a dividend yield of 6.38%. Franklin Resources’s dividend payout ratio (DPR) is presently 148.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BEN shares. Evercore ISI dropped their price objective on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating on the stock in a research note on Friday, October 4th. The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Monday, January 6th. Morgan Stanley raised their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Barclays lowered their target price on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Finally, TD Cowen reduced their price target on Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, Franklin Resources currently has a consensus rating of “Hold” and an average target price of $20.18.

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.