On Tuesday, Shares of Franklin Resources, Inc. (NYSE: BEN) lost -1.03% to $39.42. The stock opened its trade at $40.09 and after floating in a price range of $39.29 to $40.10; the stock grabbed the investor’s attention and traded 2,756,382 shares as compared to its average daily volume of 3.14M shares. The stock’s institutional ownership stands at 48.10%.
Franklin Resources, Inc. (BEN) recently declared a net loss of $583.30M or $1.06 per diluted share for the quarter ended December 31, 2017, which included an estimated income tax charge2 of $1.10B or $1.94 per diluted share resulting from enactment of the Tax Cuts and Jobs Act of 2017. The estimated charge relates to a transition tax on the deemed repatriation of foreign auxiliaries’ earnings, net of the tax benefit from revaluation of net deferred tax liabilities at the lower corporate tax rate. The Company had net income1 of $425.20M or $0.76 per diluted share for the previous quarter, and $440.20M or $0.77 per diluted share for the quarter ended December 31, 2016.
Total assets under management (“AUM”) were $753.80B at December 31, 2017, up $0.60B during the quarter because of $2.90B of net market change and other, offset by $2.30B of net outflows.
Cash and cash equivalents and investments were $10.10B at December 31, 2017, as contrast to $9.90B at September 30, 2017. Total stockholders’ equity was $12.10B at December 31, 2017, as contrast to $12.90B at September 30, 2017. The Company had 552.40M shares of common stock outstanding at December 31, 2017, as contrast to 554.90M shares outstanding at September 30, 2017. During the quarter ended December 31, 2017, the Company repurchased 4.60M shares of its common stock for a total cost of $200.00M.
BEN has a market value of $21.24B while its EPS was booked as $3.21 in the last 12 months. The stock has 538.89M shares outstanding. In the profitability analysis, the company has net profit margin of 10.30%. Beta value of the company was 1.63; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 3.20.
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