Franklin Resources Inc. (NYSE:BEN) does about 3.42M shares in volume on a normal day but saw 3124780 shares change hands in Monday trading. The company now has a market cap of 14.83B USD. Its current market price is $30.35, marking an increase of 1.03% compared to the previous close of $30.04. The 52 week high reached by this stock is $33.03 whilst the lowest price level in 52 weeks is $20.24. The script in recent trading has seen the stock touch a high of $30.60 and a low of $29.965.
Franklin Resources Inc. (BEN) has a 20-day trading average at $28.34 and the current price is -8.11% off the 52-week high compared with 49.97% distance from its 52-week low. The 50-day simple moving average of the closing price is $27.21 and its 200-day simple moving average is $25.59. If we look at the stock’s price movements over the week, volatility stands at 2.10%, which increases to 2.41% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 67.82 to suggest the stock is neutral.
15 analysts observing the Franklin Resources Inc. (BEN) stock have set the 12-month price targets for the company’s shares at between $21.00 and $29.00. The consensus objective for the share price is $24.04, suggesting that the stock has a potential downside of -26.25% over the period. The median price target is -16.73% away from the current levels at $26.00.
FactSet Research has provided data showing that 15 brokerages have issued ratings for the stock. 6 analysts have rated it as a sell, while 0 advise that it is a overweight. 0 analysts have rated it as a buy and 8 have advised that investors hold their positions. The consensus recommendation rating is Underweight and Wall Street’s advice is for investors to Hold the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 15, 2022 when Wells Fargo initiated the stock to “Underweight” and issued a price target of $26. BofA Securities downgraded its price target at $28-$25.
The current price level is 7.74%, 12.11%, and 18.65% away from its SMA20, SMA50, and SMA200 respectively, with the BEN price moving above the 50-day SMA on January 23. Franklin Resources Inc. (BEN) stock is up 0.93% over the week and 16.69% over the past month. Its price is 15.05% year-to-date and -7.24% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $0.82 above consensus estimates by $0.09. The company’s next earnings report is expected on 05/02/2023, with forecasts estimating quarterly EPS at $0.67 and $3.53 for whole year. BEN’s earnings per share are forecast to shrink by -5.60% this year and -24.90% over next year. Expected sales for next quarter are $1.86 billion, which analysts say will come at $8.24 billion for the current fiscal year and next year at $7.56 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.92 billion.
Its 12-month price target is $26.00. To reach the target analysts have set, the stock logically needs to shrink -26.25 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $21.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $29.00.
Outstanding shares total 487.50M with insiders holding 43.42% of the shares and institutional holders owning 47.42% of the company’s common stock. The company has a return on investment of 6.80% and return on equity of 10.70%. The price to earnings ratio (P/E ratio) amounts to 12.01 while the forward price to earnings ratio is 11.24. The beta has a value of 1.27. Price to book ratio is 1.29 and price to sales ratio is 1.79.
According to a U.S. Securities and Exchange Commission filing, SPDR S&P Dividend ETF has reduced its position in Franklin Resources Inc. (BEN) to 17,313,195 shares, mirroring a recent drop by -0.11%. SPDR S&P Dividend ETF dumped 18468.0 shares of Franklin Resources Inc. common stock bringing its total worth to about $456.72 million at the end of recent close, SEC documents show. SPDR S&P Dividend ETF isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which added 0.83 million shares to end up with 9,102,204 shares worth $240.12 million. American Mutual Fund raise their holdings by 78.71% in the company over the course of the most recent quarter. It now holds a 1.76% position in Franklin Resources Inc. thanks to 8.77 million shares amounting to $231.29 million.