Market Update (NYSE:BEN): Fiduciary Trust Company International Completes Relocation of Its New York Headquarters

[Marketwired] – Fiduciary Trust Company International, a leading global investment manager and wholly-owned subsidiary of Franklin Resources, Inc., completed the relocation of its New York City headquarters to 280 Park … Read more on this. Franklin Resources, Inc. (BEN) , valued at $18.02B, opened this morning at $31.03. Shares have traded today between $30.58 and $31.22 per share and has traded between $30.56 and $49.96 over the past 12 months. Franklin Resources (BEN) shares are currently priced at 11.36x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -53.33x earnings multiple for the same period. The company pays shareholders $0.72 per share in dividend income per year, for a current yield of 2.25%. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $0.68 per share, which would be $0.14 worse than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $2.70 is a $0.59 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.63 Billion. If realized, that would be a 18.50% decrease over the year-ago quarter. In terms of ratings, UBS downgraded BEN from Neutral to Sell (Jun 2, 2016). Previously, BofA/Merrill downgraded BEN from Neutral to Underperform. Investors should keep in mind is that the average price target is $36.08, which is 16.27% above where the stock opened this morning. See more in (NYSE:BEN) Similar Articles: Company Update (NYSE:BEN): Steve Brandfield Joins Fiduciary Trust Company International as Managing Director and Business Development Officer Market Update: Franklin Resources Inc (NYSE:BEN) – Franklin Universal Trust Declares Monthly Dividend Stock Update (NYSE:BEN): Fiduciary Trust Company International Names Gail Cohen as Chair, Lawrence Sternkopf as President