Analyst Consensus ?
ConsensusHold27 ratings
Bullish622.2%
Neutral1659.3%
Bearish518.5%
Franklin Resources, Inc. · BEN · FY2026 Q3 · Calendar Q3 2026
Franklin Resources reports record AUM and strong inflows
The quarter supports the view that earnings growth and resilient demand can benefit an asset manager when alternatives, ETFs, wealth offerings, and digital products attract flows. The evidence remains dependent on fee pressure, integration execution, market conditions, and whether AI investments produce durable efficiency gains.
Why did BEN rise 2.1% after beating EPS estimates in FY2026 Q3?
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Reported Before market openNYSEFinancial Services
$17.48B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.72
Consensus $0.66
EPS surprise
+9.4%
Reported versus consensus
Reported revenue
$1.82B
Consensus $1.76B
Revenue surprise
+3.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.1%
Event window
SPY move
+0.7%
Same window
Abnormal move
+1.4%
Stock minus SPY
Volume
2.7×
Versus trailing sessions
Subsequent drift
+2.3%
Up to 20 sessions
BENSPY benchmark
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Why did BEN rise 2.1% after beating EPS estimates in FY2026 Q3?What changed in BEN's guidance and outlook in FY2026 Q3?Give me the bull and bear case for BEN after FY2026 Q3 earnings.
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Transcript intelligence
What changed
The latest analysis showed record AUM and stronger net inflows, alternatives fundraising above its full-year target, Canvas expansion to $30 billion of AUM, digital assets at $3.2 billion, and continued emphasis on margin expansion, AI, and shareholder returns.
Guidance delta
Maintained
Key takeaways
- AUM reached a record $1.8 trillion, with $18.4 billion of net inflows across asset classes.
- Alternatives fundraising was $11.8 billion, exceeding the full-year target with $33 billion year to date.
- Canvas AUM grew to $30 billion from $2 billion, with 26 new partners added.
- Digital assets reached $3.2 billion, including tokenized funds and crypto ETFs.
- Management highlighted margin expansion toward 30% and $350 million of quarterly share repurchases.
Management priorities
- Scale private-markets fundraising and evergreen platforms
- Expand the Canvas platform and tax-overlay partnerships
- Grow active ETFs and wealth-channel alternatives
- Develop tokenized funds and digital-asset capabilities
- Extend AI across sales, investment research, and operations
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$33.44Current
$19Low
$30.84Average
$45High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 6, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 14, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 12, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 12, 2026 |
| Evercore ISI Group | Underperform | Underperform | Maintain | Oct 9, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 25, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 29, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Oct 2, 2025 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 11, 2025 |
| UBS | Neutral | Neutral | Maintain | Feb 3, 2025 |
| Keefe, Bruyette & Woods | Underperform | Underperform | Maintain | Feb 3, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | Feb 3, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Nov 5, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 2, 2023 |
| Citigroup | Neutral | Buy | Downgrade | Apr 12, 2022 |
| CFRA | Hold | Hold | Maintain | May 1, 2020 |
| Standpoint Research | Buy | Accumulate | Maintain | Dec 23, 2019 |
| Keefe Bruyette & Woods | Underperform | Market Perform | Downgrade | Apr 29, 2019 |
| Bank of America | Underperform | Neutral | Downgrade | Jan 11, 2019 |
| Jefferies | Hold | Hold | Maintain | Oct 11, 2016 |
| Susquehanna | Neutral | Neutral | Maintain | Nov 3, 2015 |
| PiperJaffray | Neutral | Neutral | Maintain | Jun 3, 2015 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | Nov 22, 2013 |
| Macquarie | Neutral | Outperform | Downgrade | May 21, 2013 |
| Stifel Nicolaus | Buy | Buy | Maintain | May 9, 2013 |
| Stifel | Buy | Buy | Maintain | May 9, 2013 |
| Sterne Agee | Neutral | Buy | Downgrade | May 2, 2013 |
| Nomura | Neutral | Neutral | Maintain | May 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $33.44. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Michael Brown | $40 | $31.98 | +19.6% | Oct 7, 2026 |
| Morgan Stanley | Analyst unavailable | $35 | $32.55 | +4.7% | Sep 25, 2026 |
| Deutsche Bank | Analyst unavailable | $34 | $35.39 | +1.7% | Aug 3, 2026 |
| Barclays | Benjamin Budish | $36 | $33.86 | +7.7% | Aug 3, 2026 |
| Barclays | Analyst unavailable | $34 | $32.83 | +1.7% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $35 | $33.84 | +4.7% | Jul 10, 2026 |
| Morgan Stanley | Analyst unavailable | $34 | $32.95 | +1.7% | Jun 26, 2026 |
| Evercore ISI | Analyst unavailable | $32 | $31.5 | -4.3% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $31 | $30.46 | -7.3% | May 6, 2026 |
| Evercore ISI | Glenn Schorr | $28 | $29.72 | -16.3% | Apr 29, 2026 |
| Goldman Sachs | Analyst unavailable | $34 | $29.46 | +1.7% | Apr 29, 2026 |
| Barclays | Benjamin Budish | $31 | $29.46 | -7.3% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $26 | $26.55 | -22.2% | Apr 17, 2026 |
| Evercore ISI | Analyst unavailable | $27 | $24.94 | -19.2% | Apr 10, 2026 |
| Morgan Stanley | Analyst unavailable | $22 | $27.25 | -34.2% | Feb 3, 2026 |
| Barclays | Analyst unavailable | $25 | $25.63 | -25.2% | Jan 15, 2026 |
| Barclays | Benjamin Budish | $22 | $23.46 | -34.2% | Dec 12, 2025 |
| Morgan Stanley | Michael Cyprys | $19 | $20.67 | -43.2% | Oct 18, 2024 |
| Barclays | Benjamin Budish | $20 | $20.74 | -40.2% | Aug 27, 2024 |
| Wells Fargo | Aidan Hall | $23 | $19.78 | -31.2% | Aug 22, 2024 |
| BMO Capital | Etienne Ricard | $26 | $23.08 | -22.2% | Jul 26, 2024 |
| Deutsche Bank | Brian Bedell | $29 | $27.2 | -13.3% | Apr 5, 2024 |
| CFRA | Catherine Seifert | $30 | $27.04 | -10.3% | Mar 14, 2024 |
| Wells Fargo | Analyst unavailable | $26 | $27.1 | -22.2% | Dec 15, 2022 |
| Goldman Sachs | Analyst unavailable | $23 | $26.42 | -31.2% | Nov 23, 2022 |
| Deutsche Bank | Analyst unavailable | $26 | $27.2 | -22.2% | Nov 15, 2022 |
| Morgan Stanley | Analyst unavailable | $20 | $22.22 | -40.2% | Oct 3, 2022 |
| Goldman Sachs | Analyst unavailable | $21 | $21.8 | -37.2% | Oct 3, 2022 |
| Deutsche Bank | Analyst unavailable | $29 | $28.96 | -13.3% | Aug 12, 2022 |
| UBS | Analyst unavailable | $27 | $27.62 | -19.2% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $21 | $22.73 | -37.2% | Jun 30, 2022 |
| BMO Capital | James Fotheringham | $27 | $23.07 | -19.2% | Jun 14, 2022 |
| Deutsche Bank | Analyst unavailable | $25 | $25.14 | -25.2% | May 19, 2022 |
| KBW | Robert Lee | $45 | $36.98 | +34.6% | Nov 2, 2021 |
| Wells Fargo | Christopher Harris | $30 | $32.47 | -10.3% | May 5, 2021 |
| Barclays | Jeremy Campbell | $28 | $32.47 | -16.3% | May 5, 2021 |
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Start freeCompany context
Snapshot as of publicationFranklin Resources, Inc. is a publicly owned asset investment manager. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Calgary, Alberta; Dubai, United Arab Emirates; Edinburgh, Midlothian; Fort Lauderdale, Florida; Hyderabad, India; London, Greater London; Rancho Cordova, California; Shanghai, Shanghai Province; Singapore; Stamford, Connecticut; and Vienna.
Historical context
All BEN earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AFRM Affirm Holdings, Inc. | FY2027 Q1 · Calendar Q4 2026 | +23.8% | +1.9% | Affirm pairs strong growth outlook with underwriting and credit watchpoints |
| MET-PA MetLife, Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.9% | — | Record quarter, with investment income and broad segment growth supporting results |
| MET-PE MetLife, Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.9% | — | MetLife posts record Q3 earnings as investment income and expense control support growth |
| GPN Global Payments Inc. | FY2026 Q3 · Calendar Q4 2026 | 0.0% | -1.2% | Global Payments grows revenue and raises Worldpay synergy target |
Latest beats and misses
Who reports nextBeat on EPS
- MTDFY2026 Q3 · November 5, 2026+3.6% EPS+4.8% move
- IAGFY2026 Q3 · November 5, 2026+16.7% EPS+4.6% move
- GMABFY2026 Q3 · November 5, 2026+55.6% EPS-4.3% move
- STEFY2027 Q2 · November 4, 2026+9.7% EPS+2.5% move
- IRMFY2026 Q3 · November 5, 2026+4.6% EPS-11.1% move
- AFRMFY2027 Q1 · November 5, 2026+23.8% EPS+1.9% move
Missed on EPS
- VMRKFY2026 Q3 · November 4, 2026-425.6% EPS+2.4% move
- NTRAFY2026 Q3 · November 5, 2026-49.3% EPS-15.2% move
- TIGOFY2026 Q3 · November 5, 2026-40.8% EPS+2.6% move
- UHALFY2027 Q2 · November 4, 2026-15.4% EPS-3.2% move
- LAMRFY2026 Q3 · November 5, 2026-3.6% EPS-0.8% move
- CMIFY2026 Q3 · November 5, 2026-6.0% EPS-4.9% move
Get the BEN recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-13T18:11:38.748985+00:00
- FN2 earnings calendar · 2026-09-05T01:23:14.965082+00:00
- Polygon adjusted daily market bars · 2026-09-22T05:10:51.831086+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T05:10:51.828158+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.