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%.
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.
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