Franklin Resources Inc. (NYSE:BEN) saw a downside of -1.38% to close Tuesday at $29.93 after subtracting -$0.42 on the day. The 5-day average trading volume is 3,496,440 shares of the company’s common stock. It has gained $30.60 in the past week and touched a new high 2 times within the past 5 days. An average of 3,156,450 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,244,720.
BEN’s 1-month performance is 11.22% or $3.08 on its low of $26.05 reached on 12/29/22. The company’s shares have touched a 52-week low of $20.24 and high of $33.03, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, BEN has achieved 13.46% or $3.55 and has reached a new high 10 times. However, the current price is down -9.39% from the 52-week high price.
BEN stock investors last saw insider trading activity on Nov 08.JOHNSON JENNIFER M (President and CEO) most recently sold 55,201 shares at $28.75 per share on Aug 16. This transaction cost the insider $1,587,211. Executive Vice President, Plafker Jed A., sold 19,166 shares at a price of $29.02 on Aug 12.
BEN stock has a beta of 1.27. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.77 while the price-to-book (PB) in the most recent quarter is 1.27, with the price to cash flow ratio at 11.40.
As well, the company’s long term debt to equity for the quarter ending September 29 was 0.77, while the total debt to equity was 0.77. The firm’s gross profit as reported stood at $1.77 billion against revenue of $8.28 billion.
For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -186.08% to $232.7 million, while revenue of $256.4 million was -10.18% off the previous quarter. Analysts expected BEN to announce $0.67 per share in earnings in its latest quarter, but it posted $0.78, representing a 16.40% surprise. EBITDA for the quarter stood at more than $472.2 million. Shareholders hold equity totaling $499.56 million.
Let’s look briefly at Franklin Resources Inc. (BEN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 63.01% to suggest the stock is trending Neutral, with historical volatility in this time period at 20.98%.
The stock’s 5-day moving average is $29.91, reflecting a +0.50% or $0.15 change from its current price. BEN is currently trading +12.56% above its 20-day SMA, +14.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +31.85% and SMA200 by+11.68%.
Stochastic %K and %D was 88.54% and 86.84% and the average true range (ATR) pointed at 0.73. The RSI (14) points at 63.27%, while the 14-day stochastic is at 80.57% with the period’s ATR at 0.75. The stock’s 9-day MACD Oscillator is pointing at 0.25 and 0.83 on the 14-day charts.
In the most recent analyst report for Franklin Resources Inc. (NYSE: BEN), Wells Fargo launched coverage with an Underweight rating. Analysts offering their rating for BEN stock have a consensus rating for the stock as Underweight. Currently, 6 brokerage advisors rate BEN as a “sell,”, while 8 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.
What is BEN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $21.00 and a high of $29.00, with their median price target at $26.00. Looking at these predictions, the average price target given by analysts is for Franklin Resources Inc. (BEN) stock is $24.65.