Franklin Resources beats Q3 revenue, adjusted EPS estimates on strong net inflows, AUM growth
BEN•Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell".
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Franklin Resources Inc is $33.50, about 1% above its July 30 closing price of $33.17.
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago.
Flows and AUM growth
The company reported $18.4 bln in long-term net inflows across public and private assets, with positive net flows in every asset class and geography.
Alternative AUM reached a record $294.2 bln, driven by $11.8 bln in fundraising, including $10.3 bln in private market strategies.
Net market change, distributions and other contributed $98.0 bln to AUM growth in the quarter.
Q3 results beat estimates
U.S. asset manager Franklin Resources said its Q3 operating revenue rose 14% year over year, beating analyst expectations. Adjusted EPS for Q3 also beat analyst expectations.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Operating Revenue | Beat | $2.36 bln | $1.76 bln (4 Analysts) |
| Q3 Adjusted EPS | Beat | $0.72 | $0.67 (7 Analysts) |
| Q3 EPS | $0.31 | ||
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