Franklin Resources (NYSE:BEN) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Franklin Resources (NYSE:BEN) released its quarterly earnings data on Monday. The closed-end fund reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s revenue was up 11.7% compared to the same quarter last year.

Franklin Resources Stock Down 1.0 %

Shares of BEN traded down $0.24 during trading hours on Tuesday, reaching $23.14. 362,721 shares of the stock traded hands, compared to its average volume of 3,640,015. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.31 and a beta of 1.40. Franklin Resources has a 52 week low of $21.88 and a 52 week high of $30.32. The stock has a fifty day simple moving average of $26.79 and a 200 day simple moving average of $26.37.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.31 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.36%. Franklin Resources’s dividend payout ratio is presently 65.26%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen assumed coverage on shares of Franklin Resources in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. BMO Capital Markets increased their price target on Franklin Resources from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. StockNews.com cut Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company raised Franklin Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $24.00 to $30.00 in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.50.

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.