Recent Research Analysts’ Ratings Changes for Franklin Resources (BEN)
Franklin Resources (NYSE: BEN) recently received a number of ratings updates from brokerages and research firms:
- 8/16/2018 – Franklin Resources had its price target lowered by analysts at Deutsche Bank AG from $33.00 to $32.00. They now have a “hold” rating on the stock.
- 8/6/2018 – Franklin Resources was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Shares of Franklin Resources have underperformed the industry over the past six months. However, the company displays an impressive earnings surprise history, beating the Zacks Consensus Estimate in three out of the trailing four quarters. Its third-quarter fiscal 2018 (ended Jun 30) earnings reflected lower revenues and reduced assets under management (AUM), along with higher operating expenses. Net outflows were also an undermining factor. Nevertheless, we remain optimistic as strategic acquisitions and solid distribution platform have well positioned the company for growth. Further, management continues with its cost-control measures. Also, its involvement in steady capital-deployment activities boosts shareholders’ confidence. However, volatile markets and unfavorable global economic conditions might affect the company’s performance and dampen profitability.”
- 8/2/2018 – Franklin Resources had its price target lowered by analysts at Morgan Stanley from $32.00 to $30.00. They now have an “underweight” rating on the stock.
- 7/30/2018 – Franklin Resources had its price target lowered by analysts at Barclays PLC from $32.00 to $30.00. They now have an “underweight” rating on the stock.
- 7/30/2018 – Franklin Resources had its price target lowered by analysts at Wells Fargo & Co from $35.00 to $34.00. They now have a “market perform” rating on the stock.
- 7/13/2018 – Franklin Resources had its “hold” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $33.00 price target on the stock.
- 7/12/2018 – Franklin Resources had its price target lowered by analysts at Morgan Stanley from $33.00 to $32.00. They now have an “underweight” rating on the stock.
NYSE:BEN traded up $0.38 during trading hours on Friday, reaching $32.72. The company had a trading volume of 2,527,400 shares, compared to its average volume of 3,388,799. Franklin Resources, Inc. has a 1-year low of $31.28 and a 1-year high of $45.96. The company has a market capitalization of $16.91 billion, a PE ratio of 10.87, a PEG ratio of 1.59 and a beta of 1.56. 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 (NYSE:BEN) last announced its quarterly earnings results on Friday, July 27th. The closed-end fund reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. Franklin Resources had a return on equity of 15.40% and a net margin of 10.72%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the company posted $0.73 earnings per share. Franklin Resources’s revenue for the quarter was down 3.4% on a year-over-year basis. equities research analysts predict that Franklin Resources, Inc. will post 3.14 earnings per share for the current fiscal year.
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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