Franklin Resources Inc reports results for the quarter ended June 30 - Earnings Summary

• Franklin Resources Inc BEN reported quarterly adjusted earnings of 49 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 60 cents. The mean expectation of nine analysts for the quarter was for earnings of 49 cents per share. Wall Street expected results to range from 45 cents to 56 cents per share.

• Revenue fell 3.7% to $1.59 billion from a year ago; analysts expected $1.60 billion.

• Franklin Resources Inc's reported EPS for the quarter was 15 cents​.

• The company reported quarterly net income of $92.3 million.

• Franklin Resources Inc shares had risen by 0.6% this quarter and gained 18.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.1% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 5 "hold" and 4 "sell" or "strong sell." The average consensus recommendation for the investment management & fund operators peer group is "buy."

• Wall Street's median 12-month price target for Franklin Resources Inc is $23.00, about 4.3% below its last closing price of $24.00

This summary was machine generated from LSEG data August 1 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)