Franklin Resources (BEN) reported quarterly earnings results on Wednesday, Apr-27-2016. The company reported $0.61 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.64. The company posted revenue of $1613.90 million in the period, compared to analysts expectations of $1646.04 million. The company’s revenue was down -19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.
Many Wall Street Analysts have commented on Franklin Resources. Franklin Resources was Downgraded by BofA/Merrill to ” Underperform” on Mar 15, 2016. Company shares were Reiterated by Barclays on Mar 9, 2016 to “Underweight”, Firm has raised the Price Target to $ 32 from a previous price target of $31 .Shares were Reiterated by Barclays on Feb 9, 2016 to “Underweight” and Lowered the Price Target to $ 31 from a previous price target of $32 .
Franklin Resources opened for trading at $40.47 and hit $40.99 on the upside on Friday, eventually ending the session at $40.67, with a gain of 0.32% or 0.13 points. The heightened volatility saw the trading volume jump to 18,56,902 shares. Company has a market cap of $24,103 M.
In a different news, on Dec 23, 2015, Jennifer M Johnson (Co-President) purchased 210 shares at $35.74 per share price. According to the SEC, on May 20, 2015, John M Lusk (EVP-Investment Management) sold 15,000 shares at $51.63 per share price. On Feb 3, 2015, Kenneth A Lewis (EVP and CFO) sold 3,000 shares at $53.04 per share price, according to the Form-4 filing with the securities and exchange commission.
Franklin Resources Inc. (Franklin) is a holding company. Franklin together with its various subsidiaries (collectively the Company) is referred to as Franklin Templeton Investments is a global investment management organization offering investment management and related services under the Franklin Templeton Mutual Series Bissett Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally which include the United States- and non- United States-registered open-end and closed-end funds unregistered funds and institutional high net-worth and separately-managed accounts. The Companys investment management and related services include fund administration shareholder services transfer agency underwriting distribution custodial trustee and other fiduciary services. Its sponsored investment products include a range of equity hybrid fixed-income and cash management funds and accounts including alternative investment products.