Franklin Resources, Inc. (NYSE:BEN) price on Wednesday, March 27, rose 2.22% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $27.63.
A look at the stock’s price movement, the close in the last trading session was $27.03. The beta value (5-Year monthly) was 1.42 while the PE ratio in trailing twelve months stood at 14.58. Turning to its 52-week performance, $30.32 and $21.88 were the 52-week high and 52-week low respectively. Overall, BEN moved 1.99% over the past month.
Franklin Resources, Inc.’s market cap currently stands at around $14.55 billion, with investors looking forward to this quarter’s earnings report slated for Apr 29, 2024 – May 03, 2024. The company has a Forward Dividend ratio of 1.52, with its dividend yield at 5.50%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.58, which has seen fiscal year 2024 EPS growth forecast to increase to $2.54 and about $2.9 for fiscal year 2025. Per the data, EPS growth is expected to be -2.30% for 2024 and 14.20% for the next financial year.
Analysts have a consensus estimate of $1.67 billion for the company’s revenue for the quarter, with a low and high estimate of $1.66 billion and $1.68 billion respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $6.61 billion, representing a 8.30% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that BEN is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
The technical evaluation for the stock shows the PEG ratio is 1.51, with BEN’s current price about 0.48% and 1.22% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 52.87, while 7-day volatility ratio is 2.20% and 2.08% in the 30-day chart. Further, Franklin Resources, Inc. (BEN) has a beta value of 1.42, and an average true range (ATR) of 0.61.
If we refocus on Franklin Resources, Inc. (NYSE:BEN), historical trading data shows that trading volumes averaged 4.05 million over the past 10 days and 3.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 495.94 million shares.
The 45.78% of Franklin Resources, Inc.’s shares are in the hands of company insiders while institutional holders own 42.32% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 20.48 million on Feb 29, 2024, giving us a short ratio of 6.05. The data shows that as of Feb 29, 2024 short interest in Franklin Resources, Inc. (BEN) stood at 3.89% of shares outstanding, with shares short rising to 13.19 million registered in Jan 31, 2024. Current price change has pushed the stock -7.25% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BEN stock continues to rise going into the next quarter.
