Franklin Resources, Inc. (BEN) Stock Rating Upgraded by BidaskClub

Franklin Resources, Inc. (NYSE:BEN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently issued reports on BEN. Deutsche Bank AG raised shares of Franklin Resources from a “sell” rating to a “hold” rating and boosted their price objective for the company from $37.00 to $41.00 in a report on Friday, February 24th. They noted that the move was a valuation call. Citigroup Inc. reissued a “neutral” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Franklin Resources in a report on Friday, June 9th. TheStreet raised shares of Franklin Resources from a “c” rating to a “b-” rating in a report on Friday, March 3rd. Credit Suisse Group reissued a “sell” rating and issued a $37.00 price objective on shares of Franklin Resources in a report on Friday, April 7th. Finally, Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a report on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $40.33.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

Franklin Resources (BEN) traded down 0.636% during midday trading on Tuesday, hitting $44.555. 1,386,477 shares of the company traded hands. Franklin Resources has a 12-month low of $30.56 and a 12-month high of $45.21. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 14.354 and a beta of 1.73. The stock’s 50-day moving average price is $42.87 and its 200 day moving average price is $41.66.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, April 28th. The closed-end fund reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Franklin Resources had a net margin of 27.77% and a return on equity of 14.34%. Franklin Resources’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, equities analysts forecast that Franklin Resources will post $2.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, June 28th. Franklin Resources’s dividend payout ratio (DPR) is presently 25.81%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Mideast Time and is the sole property of of Mideast Time. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.mideasttime.com/franklin-resources-inc-ben-stock-rating-upgraded-by-bidaskclub/1796466.html.

Several hedge funds have recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of Franklin Resources by 22.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 7,292 shares of the closed-end fund’s stock worth $289,000 after buying an additional 1,332 shares during the period. Van ECK Associates Corp increased its stake in shares of Franklin Resources by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 4,571 shares of the closed-end fund’s stock worth $181,000 after buying an additional 48 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Franklin Resources by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,210,421 shares of the closed-end fund’s stock worth $47,908,000 after buying an additional 4,464 shares during the period. Federated Investors Inc. PA increased its stake in shares of Franklin Resources by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 9,148 shares of the closed-end fund’s stock worth $362,000 after buying an additional 56 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Franklin Resources during the fourth quarter worth $4,894,000. 45.54% of the stock is owned by institutional investors.

About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.