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.

Large investors have recently made changes to their positions in the business. Sciencast Management LP raised its stake in shares of Franklin Resources by 6.6% during the 1st quarter. Sciencast Management LP now owns 25,001 shares of the closed-end fund’s stock worth $849,000 after buying an additional 1,538 shares during the period. Wesbanco Bank Inc. raised its stake in shares of Franklin Resources by 9.7% during the 1st quarter. Wesbanco Bank Inc. now owns 17,566 shares of the closed-end fund’s stock worth $609,000 after buying an additional 1,554 shares during the period. Dupont Capital Management Corp raised its stake in shares of Franklin Resources by 61.2% during the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock worth $134,000 after buying an additional 1,582 shares during the period. World Asset Management Inc raised its stake in shares of Franklin Resources by 6.7% during the 2nd quarter. World Asset Management Inc now owns 26,689 shares of the closed-end fund’s stock worth $855,000 after buying an additional 1,672 shares during the period. Finally, IFG Advisory LLC raised its stake in shares of Franklin Resources by 9.8% during the 2nd quarter. IFG Advisory LLC now owns 18,830 shares of the closed-end fund’s stock worth $603,000 after buying an additional 1,676 shares during the period. 46.33% of the stock is owned by institutional investors.

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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