Media headlines about Franklin Resources (NYSE:BEN) have trended somewhat positive recently, Accern Sentiment reports. The research firm identifies positive and negative news coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Franklin Resources earned a news sentiment score of 0.09 on Accern’s scale. Accern also gave news headlines about the closed-end fund an impact score of 46.6807766187364 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Franklin Resources opened at $31.78 on Friday, according to Marketbeat. Franklin Resources has a 1 year low of $31.28 and a 1 year high of $47.65. The stock has a market cap of $17.17 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.39 and a beta of 1.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.46 and a current ratio of 2.46.
Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, April 26th. The closed-end fund reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Franklin Resources had a return on equity of 14.66% and a net margin of 10.76%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.58 billion. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. equities research analysts anticipate that Franklin Resources will post 3.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, June 28th. Franklin Resources’s dividend payout ratio is currently 30.56%.
Franklin Resources announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 12th that permits the company to repurchase 80,000,000 shares. This repurchase authorization permits the closed-end fund to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts have commented on the company. ValuEngine cut Franklin Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research note on Monday, April 30th. Barclays dropped their target price on Franklin Resources from $40.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday, April 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $36.00 target price on shares of Franklin Resources in a research report on Wednesday, April 11th. Finally, Morgan Stanley dropped their target price on Franklin Resources from $42.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 10th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.36.
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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