16.9 C
New York
Saturday, April 1, 2023

Franklin Resources Reports Q1 EPS Miss While Revenues Beat Estimates

Franklin Resources Reports Q1 EPS Miss While Revenues Beat Estimates

Date:


Franklin Resources (NYSE:BEN) reported its Q1 results, with EPS of $0.51 coming in worse than the Street estimate of $0.54. Revenue was $1.97 billion, beating the Street estimate of $1.47 billion.
Analysts at Deutsche Bank view the results as being relatively mixed overall. Positively, the company continues to make its alternatives platform a key priority given the increasing demand for a widening range of alternative products, along with favorable economics; however, this alone is not a catalyst for the shares.
The analysts continue to see weakness in equity and fixed income flows and expect pressure to continue through H1/23. The analyst raised their price target to $29 from $27 while maintaining their Hold rating.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

FREE

Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.

Popular

You may like more
more

MLS News: Galaxy acquire Serbian G Novak Micovic on loan

The LA Galaxy acquired goaltender Novak Micovic on loan...

NHL News: Islanders F Mathew Barzal nearing return

New York Islanders forward Mathew Barzal is getting closer...

NHL News: Sharks aim to continue modest ascent vs. skidding Coyotes

Two teams heading toward the finish line of disappointing...

NHL News: Avalanche, Stars clash in key Central showdown

The Colorado Avalanche received the chance to gain control...

FREE

Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.