Franklin Resources’ (BEN) Hold Rating Reaffirmed at Keefe, Bruyette & Woods

Franklin Resources, Inc. (NYSE:BEN)‘s stock had its “hold” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a report issued on Thursday. They currently have a $47.00 price target on the closed-end fund’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 4.61% from the stock’s previous close.

A number of other research firms also recently weighed in on BEN. BidaskClub raised shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company downgraded shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a research note on Monday, July 24th. Barclays PLC started coverage on shares of Franklin Resources in a research note on Friday, September 8th. They issued an “underweight” rating and a $40.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a research note on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.36.

Franklin Resources (NYSE:BEN) opened at 44.93 on Thursday. The company has a 50-day moving average price of $43.16 and a 200-day moving average price of $43.31. Franklin Resources has a one year low of $33.02 and a one year high of $47.65. The firm has a market cap of $25.06 billion, a PE ratio of 14.62 and a beta of 1.72.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.73. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Franklin Resources’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts predict that Franklin Resources will post $2.96 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Franklin Resources’ (BEN) Hold Rating Reaffirmed at Keefe, Bruyette & Woods” was posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.com-unik.info/2017/10/12/franklin-resources-ben-hold-rating-reaffirmed-at-keefe-bruyette-woods.html.

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Franklin Resources by 16.1% during the second quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after acquiring an additional 372 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Franklin Resources during the second quarter valued at about $123,000. Global X Management Co. LLC boosted its holdings in Franklin Resources by 7.9% during the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after acquiring an additional 337 shares during the period. Investment Centers of America Inc. bought a new stake in Franklin Resources during the first quarter valued at about $201,000. Finally, Van ECK Associates Corp boosted its holdings in Franklin Resources by 6.0% during the first quarter. Van ECK Associates Corp now owns 4,847 shares of the closed-end fund’s stock valued at $204,000 after acquiring an additional 276 shares during the period. Institutional investors own 44.96% of the company’s stock.

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.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

What are top analysts saying about Franklin Resources Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Franklin Resources Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit