Jefferies Financial Group Comments on Franklin Resources, Inc.’s Q3 2019 Earnings (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) – Equities research analysts at Jefferies Financial Group boosted their Q3 2019 earnings per share estimates for shares of Franklin Resources in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst D. Fannon now expects that the closed-end fund will post earnings of $0.62 per share for the quarter, up from their prior estimate of $0.61.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, April 26th. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.08. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. Franklin Resources had a net margin of 26.10% and a return on equity of 14.24%. Franklin Resources’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share.

BEN has been the subject of a number of other reports. Citigroup downgraded shares of Apergy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $41.00 to $34.00 in a research note on Tuesday. Bank of America set a $180.00 price target on shares of CME Group and gave the stock a “hold” rating in a research note on Tuesday, April 9th. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. reissued a “buy” rating and set a $69.00 price target on shares of Daimler in a research note on Friday. Finally, Keefe, Bruyette & Woods downgraded shares of Franklin Resources from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $34.00 to $33.00 in a research note on Monday, April 29th. Seven equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Franklin Resources has an average rating of “Hold” and an average target price of $31.09.

BEN opened at $35.19 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.54 and a current ratio of 3.54. The company has a market capitalization of $17.65 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The business’s 50 day simple moving average is $33.87. Franklin Resources has a fifty-two week low of $27.34 and a fifty-two week high of $35.82.

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.96%. The ex-dividend date was Thursday, June 27th. Franklin Resources’s payout ratio is presently 32.60%.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,924 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.04, for a total value of $350,004.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.20% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Trustcore Financial Services LLC acquired a new position in Franklin Resources during the first quarter worth $25,000. Knuff & Co LLC acquired a new position in Franklin Resources during the first quarter worth $33,000. Vigilant Capital Management LLC acquired a new position in Franklin Resources during the first quarter worth $39,000. Investors Research Corp acquired a new position in Franklin Resources during the first quarter worth $56,000. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in Franklin Resources by 102.2% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,943 shares of the closed-end fund’s stock worth $58,000 after purchasing an additional 982 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: What is meant by buying and selling pressure?

Earnings History and Estimates for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.