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Franklin Resources (BEN) Q2 Earnings Beat Estimate, AUM Down
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Have you been eager to see how Franklin Resources (BEN - Free Report) performed in fiscal Q2 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 78 cents, beating the Zacks Consensus Estimate of 75 cents. Higher revenues were primarily responsible for the 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 seven days.
Further, Franklin Resources has a decent earnings surprise history. Before posting earnings beat in fiscal Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.34% in the trailing four quarters.
Franklin Resources posted revenues of $1.62 billion, which surpassed the Zacks Consensus Estimate of $1.59 billion. Also, it compared favorably with the year-ago number of $1.60 billion.
Key Stats to Note:
Operating expenses were up 2% year over year
Operating Margin contracted 4 basis points year over year
Assets Under Management were down slightly year over year
What Zacks Rank Says
Franklin Resources is currently carrying a Zacks Rank #4 (Sell). 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!
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Franklin Resources (BEN) Q2 Earnings Beat Estimate, AUM Down
Have you been eager to see how Franklin Resources (BEN - Free Report) performed in fiscal Q2 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 78 cents, beating the Zacks Consensus Estimate of 75 cents. Higher revenues were primarily responsible for the 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 seven days.
Further, Franklin Resources has a decent earnings surprise history. Before posting earnings beat in fiscal Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.34% in the trailing four quarters.
Franklin Resources, Inc. Price and EPS Surprise
Franklin Resources, Inc. Price and EPS Surprise | Franklin Resources, Inc. Quote
Revenues Came In More Than Expected
Franklin Resources posted revenues of $1.62 billion, which surpassed the Zacks Consensus Estimate of $1.59 billion. Also, it compared favorably with the year-ago number of $1.60 billion.
Key Stats to Note:
What Zacks Rank Says
Franklin Resources is currently carrying a Zacks Rank #4 (Sell). 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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>