Franklin Resources Inc. (NYSE:BEN) saw an upside of 0.71% to close Monday at $28.54 after adding $0.2 on the day. The 5-day average trading volume is 2,976,520 shares of the company’s common stock. It has gained $29.34 in the past week and touched a new high 1 time within the past 5 days. An average of 3,889,200 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,349,106.
BEN’s 1-month performance is 9.14% or $2.39 on its low of $26.24 reached on 07/10/23. The company’s shares have touched a 52-week low of $20.24 and high of $34.37, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, BEN has achieved 8.19% or $2.16 and has reached a new high 14 times. However, the current price is down -16.95% from the 52-week high price.
Insider Transactions
BEN stock investors last saw insider trading activity on Apr 28.Sethi Alok (EVP, Technology and Operations) most recently sold 29,503 shares at $31.09 per share on Feb 01. This transaction cost the insider $917,325. President and CEO, JOHNSON JENNIFER M, sold 55,201 shares at a price of $28.75 on Aug 16. Then, on Aug 12, Executive Vice President Plafker Jed A. sold 19,166 shares at a price of $29.02 per share. This transaction amounted to $556,188.
Valuation Metrics
BEN stock has a beta of 1.31. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.83 while the price-to-book (PB) in the most recent quarter is 1.17, with the price to cash flow ratio at 30.04.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.95, while the total debt to equity was 0.95. The firm’s gross profit as reported stood at $1.77 billion against revenue of $8.28 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -12.7% to $227.5 million, while revenue of $194.2 million was 14.64% off the previous quarter. Analysts expected BEN to announce $0.6 per share in earnings in its latest quarter, but it posted $0.63, representing a 5.00% surprise. EBITDA for the quarter stood at more than $437.9 million. Shareholders hold equity totaling $498.98 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 07 August was 49.17% to suggest the stock is trending Neutral, with historical volatility in this time period at 26.35%.
The stock’s 5-day moving average is $28.48, reflecting a -2.39% or -$0.70 change from its current price. BEN is currently trading +5.12% above its 20-day SMA, +4.47% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +18.52% and SMA200 by+26.73%.
Stochastic %K and %D was 28.27% and 25.23% and the average true range (ATR) pointed at 0.71. The RSI (14) points at 52.79%, while the 14-day stochastic is at 33.33% with the period’s ATR at 0.70. The stock’s 9-day MACD Oscillator is pointing at -0.31 and -0.60 on the 14-day charts.
Analyst Ratings
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 7 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 $23.00 and a high of $30.00, with their median price target at $26.50. Looking at these predictions, the average price target given by analysts is for Franklin Resources Inc. (BEN) stock is $26.21.
