Franklin Templeton Investments (BEN) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Franklin Templeton Investments (NYSE:BEN) released its quarterly earnings results on Thursday. The closed-end fund reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03, Bloomberg Earnings reports. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Franklin Templeton Investments had a return on equity of 13.88% and a net margin of 10.44%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share.

BEN stock traded up $0.28 during trading on Thursday, hitting $33.86. The company had a trading volume of 2,576,051 shares, compared to its average volume of 3,631,875. Franklin Templeton Investments has a one year low of $32.41 and a one year high of $47.65. The stock has a market capitalization of $18,377.25, a PE ratio of 11.20, a PEG ratio of 1.43 and a beta of 1.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.28 and a quick ratio of 4.28.

The business also recently announced a special dividend, which was paid on Thursday, April 12th. Investors of record on Thursday, March 29th were issued a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This is a boost from Franklin Templeton Investments’s previous special dividend of $0.50. This represents a yield of 2.35%. Franklin Templeton Investments’s dividend payout ratio is presently 30.56%.

Several analysts have recently weighed in on BEN shares. Zacks Investment Research upgraded Franklin Templeton Investments from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Thursday, January 11th. Deutsche Bank reduced their price target on Franklin Templeton Investments from $40.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, March 6th. ValuEngine cut Franklin Templeton Investments from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group reiterated a “hold” rating and issued a $36.00 target price on shares of Franklin Templeton Investments in a report on Wednesday, April 11th. Finally, Bank of America cut Franklin Templeton Investments from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, April 9th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.36.

Franklin Templeton Investments announced that its Board of Directors has approved a stock buyback plan on Thursday, April 12th that authorizes the company to repurchase 80,000,000 outstanding shares. This repurchase authorization authorizes the closed-end fund to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Franklin Templeton Investments 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.

Earnings History for Franklin Templeton Investments (NYSE:BEN)

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