$1.55 Billion in Sales Expected for Franklin Resources, Inc. (BEN) This Quarter

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Equities research analysts expect that Franklin Resources, Inc. (NYSE:BEN) will report $1.55 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Franklin Resources’ earnings, with the highest sales estimate coming in at $1.55 billion and the lowest estimate coming in at $1.54 billion. Franklin Resources posted sales of $1.62 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 4.3%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, October 25th.

On average, analysts expect that Franklin Resources will report full-year sales of $6.34 billion for the current fiscal year, with estimates ranging from $6.33 billion to $6.35 billion. For the next year, analysts anticipate that the firm will post sales of $6.16 billion, with estimates ranging from $6.10 billion to $6.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Franklin Resources.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 27th. The closed-end fund reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business earned $0.73 EPS. The company’s revenue was down 3.4% compared to the same quarter last year.

BEN has been the subject of several analyst reports. Deutsche Bank raised their price target on shares of Franklin Resources from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $32.00 to $29.00 in a report on Thursday, September 6th. Morgan Stanley lowered their price target on shares of Franklin Resources from $33.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, July 12th. Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Finally, UBS Group lowered their price target on shares of Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Franklin Resources currently has an average rating of “Hold” and an average price target of $35.75.

In other news, insider Jed A. Plafker sold 4,820 shares of Franklin Resources stock in a transaction on Friday, September 21st. The shares were sold at an average price of $32.85, for a total value of $158,337.00. Following the completion of the sale, the insider now owns 56,369 shares in the company, valued at approximately $1,851,721.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig Steven Tyle sold 11,165 shares of Franklin Resources stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total transaction of $350,022.75. The disclosure for this sale can be found here. Insiders own 22.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in Franklin Resources by 10.7% in the 3rd quarter. Bank of Montreal Can now owns 437,857 shares of the closed-end fund’s stock valued at $13,315,000 after purchasing an additional 42,174 shares during the period. BLB&B Advisors LLC grew its position in Franklin Resources by 34.8% in the 3rd quarter. BLB&B Advisors LLC now owns 10,097 shares of the closed-end fund’s stock valued at $307,000 after purchasing an additional 2,607 shares during the period. LFA Lugano Financial Advisors SA grew its position in Franklin Resources by 38.6% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 8,380 shares of the closed-end fund’s stock valued at $255,000 after purchasing an additional 2,335 shares during the period. Beacon Financial Group grew its position in Franklin Resources by 249.1% in the 3rd quarter. Beacon Financial Group now owns 68,759 shares of the closed-end fund’s stock valued at $2,091,000 after purchasing an additional 49,063 shares during the period. Finally, DNB Asset Management AS grew its position in Franklin Resources by 2.8% in the 3rd quarter. DNB Asset Management AS now owns 208,925 shares of the closed-end fund’s stock valued at $6,353,000 after purchasing an additional 5,600 shares during the period. Institutional investors own 46.82% of the company’s stock.

Franklin Resources stock remained flat at $$28.54 during mid-day trading on Monday. 3,658,521 shares of the company’s stock traded hands, compared to its average volume of 3,431,137. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. Franklin Resources has a 52-week low of $28.12 and a 52-week high of $45.96. The company has a market cap of $16.03 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 3.22%. Franklin Resources’s dividend payout ratio is currently 30.56%.

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.

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