Franklin Resources (NYSE:BEN) Posts Earnings Results, Beats Expectations By $0.03 EPS

Franklin Resources (NYSE:BEN) released its quarterly earnings data on Friday. The closed-end fund reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03, Zacks reports. Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%.

Franklin Resources Price Performance

Shares of Franklin Resources stock traded up $1.85 during trading on Friday, hitting $22.00. 8,043,915 shares of the company’s stock traded hands, compared to its average volume of 3,900,614. The company has a market cap of $11.52 billion, a PE ratio of 25.60, a PEG ratio of 1.35 and a beta of 1.41. The firm’s fifty day moving average price is $20.85 and its 200 day moving average price is $21.01. Franklin Resources has a twelve month low of $18.83 and a twelve month high of $28.61. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63.

Franklin Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Monday, December 30th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.82%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. Franklin Resources’s dividend payout ratio (DPR) is presently 148.84%.

Analysts Set New Price Targets

A number of analysts have weighed in on BEN shares. Barclays reduced their price target on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. TD Cowen reduced their target price on Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $19.00 price target (down previously from $20.00) on shares of Franklin Resources in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Evercore ISI lowered their target price on shares of Franklin Resources from $20.00 to $19.00 and set an “underperform” rating on the stock in a research note on Friday, October 4th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.18.

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.