Franklin Resources, Inc. (NYSE:BEN) is reporting fourth quarter financial results on Tuesday 27th October 2020, before market open.
According to analysts surveyed by Thomson Reuters, BEN is expected to report 4Q20 income of $ 0.67 per share from revenue of $ 1424.91 million.
For the full year, analysts anticipate top line of $ 5399.48 million, while looking forward to income of $ 2.70 per share bottom line.
Previous Quarter Performance
Franklin Resources, Inc. posted income for the third quarter of $ 0.70 per share, from the revenue of $ 1,188.00 million. The quarterly earnings 45.83 percent while revenues contracted 19.55 percent compared with the same quarter last year.
According to street consensus, BEN was expected to report 3Q20 income of $ 0.55 per share from revenue of $ 1239.64 million. The bottom line results beat street analysts by $ 0.15 or 27.27 percent, at the same time, top line results fell short of analysts by $ 51.64 million or 4.17 percent.
Stock Performance
Shares of Franklin Resources, Inc. traded up $ 0.04 or 0.17 percent on Friday, reaching $ 23.22 with volume of 3.16 million shares. Franklin Resources, Inc. has traded high as $ 23.41 and has cracked $ 23.12 on the downward trend
According to the previous trading day, closing price of $ 23.22, representing a 55.47 % increase from the 52 week low of $ 14.91 and a 20.81 % decrease over the 52 week high of $ 29.27.
The company has a market capital of $ 11.50 billion and is part of the Financial Services sector and Asset Management industry.
Recent Analyst recommendations
- On 19th October 2020, upgraded by Keefe, Bruyette & Woods to Outperform from Market Perform rating
- On 9th October 2020, upgraded by Bank of America to Buy from Underperform rating.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.27 per share on August 28, 2020. The dividend were payable on October 15, 2020 to holders of record as of the close of business on September 30, 2020 and ex-dividend date on September 29, 2020.
Conference Call
Franklin Resources, Inc. will be hosting a conference call at 11:00 AM eastern time on 27th October 2020, to discuss its 4Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.franklinresources.com
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.
