We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Franklin (BEN) Fiscal Q1 Earnings Beat on Lower Costs
Read MoreHide Full Article
Have you been eager to see how Franklin Resources Inc. (BEN - Free Report) performed in fiscal Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this CA-based popular asset management firm’s earnings release this morning:
An Earnings Beat
Franklin Resources came out with earnings per share of 77 cents, outpacing the Zacks Consensus Estimate of 68 cents. Lower operating expenses were responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Franklin Resources depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
However, Franklin Resources has a decent earnings surprise history. Before posting earnings beat in fiscal Q1, the company delivered two positive surprises out of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.1% in the trailing four quarters.
Franklin Resources posted revenues of $1.56 billion, which lagged the Zacks Consensus Estimate of $1.58 billion. Further, it compared unfavorably with the year-ago number of $1.76 billion.
Key Stats to Note:
Operating expenses were down 12% year over year
Revenues were down 11% year over year
Assets Under Management were down 6% year over year
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Franklin Resources. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Franklin Resources earnings report!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Franklin (BEN) Fiscal Q1 Earnings Beat on Lower Costs
Have you been eager to see how Franklin Resources Inc. (BEN - Free Report) performed in fiscal Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this CA-based popular asset management firm’s earnings release this morning:
An Earnings Beat
Franklin Resources came out with earnings per share of 77 cents, outpacing the Zacks Consensus Estimate of 68 cents. Lower operating expenses were responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Franklin Resources depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
However, Franklin Resources has a decent earnings surprise history. Before posting earnings beat in fiscal Q1, the company delivered two positive surprises out of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.1% in the trailing four quarters.
Franklin Resources, Inc. Price and EPS Surprise
Franklin Resources, Inc. Price and EPS Surprise | Franklin Resources, Inc. Quote
Revenue Came In Lower Than Expected
Franklin Resources posted revenues of $1.56 billion, which lagged the Zacks Consensus Estimate of $1.58 billion. Further, it compared unfavorably with the year-ago number of $1.76 billion.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Franklin Resources. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Franklin Resources earnings report!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>