Franklin Resources, Inc. (BEN) to Issue $0.20 Quarterly Dividend

Franklin Resources, Inc. (NYSE:BEN) declared a quarterly dividend on Wednesday, June 14th, RTT News reports. Stockholders of record on Friday, June 30th will be given a dividend of 0.20 per share by the closed-end fund on Friday, July 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.81%.

Franklin Resources has raised its dividend payment by an average of 34.9% annually over the last three years and has raised its dividend every year for the last 35 years. Franklin Resources has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Resources to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 28.5%.

Franklin Resources (NYSE:BEN) opened at 43.865 on Thursday. The company has a market capitalization of $24.62 billion, a PE ratio of 14.132 and a beta of 1.73. Franklin Resources has a 12-month low of $30.56 and a 12-month high of $44.35. The stock’s 50 day moving average price is $42.71 and its 200 day moving average price is $41.52.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, April 28th. The closed-end fund reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The company 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%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, equities analysts anticipate that Franklin Resources will post $2.89 EPS for the current fiscal year.

Dividend History for Franklin Resources (NYSE:BEN)

TRADEMARK VIOLATION NOTICE: This news story was posted by Mideast Time and is owned by of Mideast Time. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.mideasttime.com/franklin-resources-inc-ben-to-issue-0-20-quarterly-dividend/1782354.html.

A number of research analysts recently issued reports on BEN shares. TheStreet upgraded shares of Franklin Resources from a “c” rating to a “b-” rating in a research report on Friday, March 3rd. Bank of America Corporation upgraded shares of Franklin Resources from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Thursday, March 16th. Morgan Stanley downgraded shares of Franklin Resources from an “overweight” rating to an “equal weight” rating and set a $38.00 target price for the company. in a research report on Thursday, March 16th. Deutsche Bank AG upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating and boosted their target price for the company from $37.00 to $41.00 in a research report on Friday, February 24th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $40.33.

Franklin Resources Company Profile

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.