Zacks Research Comments on Franklin Resources, Inc.’s Q3 2024 Earnings (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) – Zacks Research lowered their Q3 2024 EPS estimates for shares of Franklin Resources in a note issued to investors on Monday, May 20th. Zacks Research analyst R. Department now expects that the closed-end fund will post earnings of $0.58 per share for the quarter, down from their prior forecast of $0.59. The consensus estimate for Franklin Resources’ current full-year earnings is $2.47 per share. Zacks Research also issued estimates for Franklin Resources’ Q4 2024 earnings at $0.67 EPS, Q3 2025 earnings at $0.80 EPS, Q2 2026 earnings at $0.74 EPS and FY2026 earnings at $3.09 EPS.

Franklin Resources (NYSE:BEN) last issued its earnings results on Monday, April 29th. The closed-end fund reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Franklin Resources had a return on equity of 10.82% and a net margin of 11.09%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis.

Several other research analysts have also recently weighed in on BEN. TD Cowen decreased their price target on Franklin Resources from $29.00 to $25.50 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Evercore ISI lowered their target price on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 30th. BMO Capital Markets reduced their price target on shares of Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Franklin Resources from $29.00 to $24.00 and set a “hold” rating on the stock in a research report on Tuesday, April 30th. Finally, Morgan Stanley lifted their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, Franklin Resources currently has a consensus rating of “Hold” and an average target price of $26.00.

Franklin Resources Stock Performance

BEN stock opened at $23.76 on Tuesday. The stock’s 50 day simple moving average is $25.51 and its 200 day simple moving average is $26.45. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.90. Franklin Resources has a 12-month low of $21.88 and a 12-month high of $30.32. The stock has a market capitalization of $12.50 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.44.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.22%. Franklin Resources’s payout ratio is 70.86%.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds and other institutional investors have recently modified their holdings of BEN. Power Corp of Canada increased its holdings in Franklin Resources by 18,266.0% in the 1st quarter. Power Corp of Canada now owns 31,557,117 shares of the closed-end fund’s stock worth $887,071,000 after acquiring an additional 31,385,293 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Franklin Resources by 17.9% in the fourth quarter. Capital Research Global Investors now owns 26,652,644 shares of the closed-end fund’s stock worth $793,983,000 after purchasing an additional 4,043,808 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Franklin Resources by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 35,889,477 shares of the closed-end fund’s stock valued at $1,008,853,000 after purchasing an additional 3,592,943 shares during the period. Norges Bank purchased a new position in shares of Franklin Resources during the 4th quarter valued at $49,547,000. Finally, Barclays PLC boosted its holdings in Franklin Resources by 138.0% in the 3rd quarter. Barclays PLC now owns 1,750,779 shares of the closed-end fund’s stock worth $43,034,000 after buying an additional 1,015,225 shares during the period. 47.56% of the stock is currently 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.