Franklin Resources (NYSE:BEN) Releases Earnings Results, Meets Estimates

Franklin Resources (NYSE:BEN - Get Free Report) released its quarterly earnings results on Friday. The closed-end fund reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47, Zacks reports. The business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.44 billion. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. Franklin Resources's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $20.04 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $10.53 billion, a PE ratio of 30.83, a PEG ratio of 2.31 and a beta of 1.36. The stock's 50 day moving average price is $18.96 and its 200-day moving average price is $20.20. Franklin Resources has a twelve month low of $16.25 and a twelve month high of $24.86.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.39%. The ex-dividend date was Monday, March 31st. Franklin Resources's dividend payout ratio (DPR) is presently 196.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BEN shares. The Goldman Sachs Group decreased their target price on Franklin Resources from $21.50 to $19.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Evercore ISI cut their target price on shares of Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a report on Friday, April 11th. Barclays decreased their price target on shares of Franklin Resources from $22.00 to $17.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. UBS Group raised their price objective on Franklin Resources from $19.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, TD Cowen lowered their target price on Franklin Resources from $20.00 to $17.50 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, Franklin Resources presently has a consensus rating of "Hold" and an average price target of $18.96.

About Franklin Resources

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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