Analyst Consensus ?
ConsensusHold27 ratings
Bullish622.2%
Neutral1659.3%
Bearish518.5%
Franklin Resources, Inc. · BEN · FY2026 Q4 · Calendar Q4 2026
Franklin Resources reports FY2026 growth, raises long-term targets
The supplied call analysis describes broad FY2026 inflows and growth in alternatives, ETFs, and Canvas, alongside expanded margins and higher FY2029 targets. The investment case depends on sustaining flows and fee economics while executing on acquisitions and distribution plans.
What drove BEN's +4.7% move after FY2026 Q4 earnings?
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Reported Before market openNYSEFinancial Services
$16.37B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.77
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $1.86B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.7%
Event window
SPY move
+0.3%
Same window
Abnormal move
+4.4%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
BENSPY benchmark
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What drove BEN's +4.7% move after FY2026 Q4 earnings?What changed in BEN's guidance and outlook in FY2026 Q4?Give me the bull and bear case for BEN after FY2026 Q4 earnings.
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Transcript intelligence
What changed
Management raised its FY2029 private-markets AUM target to $150bn and Canvas AUM target to $100bn, according to the call analysis. The transcript also highlighted acquisitions intended to broaden alternative-credit and real-assets capabilities.
Guidance delta
Management maintained guidance sentiment. The call analysis cites an adjusted operating-margin target of approximately 30% for FY2027 and 35% for FY2029; it also describes fee rates as stable.
Key takeaways
- Fiscal 2026 AUM was $1.8tn, with $84.1bn in net inflows and 5.3% organic growth, as reported in the transcript analysis.
- Adjusted operating margin expanded to 28%; management's targets are approximately 30% for FY2027 and 35% for FY2029.
- Alternatives AUM reached a record $305bn; the FY2029 private-markets target was raised to $150bn.
- Canvas AUM was near $33bn, with a new FY2029 target of $100bn; active ETF AUM was $37.2bn.
Management priorities
- Grow private markets, including alternative credit, real estate, and venture strategies.
- Scale Canvas, active ETFs, and retail SMAs through global distribution.
- Develop integrated institutional relationships through the One Franklin Templeton approach.
- Continue AI and tokenization initiatives and use acquisitions to add capabilities.
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Miss
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Analyst 52W Price Targets
$33.73Current
$19Low
$30.84Average
$45High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 7, 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 $33.73. 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 | +18.6% | Oct 7, 2026 |
| Morgan Stanley | Analyst unavailable | $35 | $32.55 | +3.8% | Sep 25, 2026 |
| Deutsche Bank | Analyst unavailable | $34 | $35.39 | +0.8% | Aug 3, 2026 |
| Barclays | Benjamin Budish | $36 | $33.86 | +6.7% | Aug 3, 2026 |
| Barclays | Analyst unavailable | $34 | $32.83 | +0.8% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $35 | $33.84 | +3.8% | Jul 10, 2026 |
| Morgan Stanley | Analyst unavailable | $34 | $32.95 | +0.8% | Jun 26, 2026 |
| Evercore ISI | Analyst unavailable | $32 | $31.5 | -5.1% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $31 | $30.46 | -8.1% | May 6, 2026 |
| Evercore ISI | Glenn Schorr | $28 | $29.72 | -17.0% | Apr 29, 2026 |
| Goldman Sachs | Analyst unavailable | $34 | $29.46 | +0.8% | Apr 29, 2026 |
| Barclays | Benjamin Budish | $31 | $29.46 | -8.1% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $26 | $26.55 | -22.9% | Apr 17, 2026 |
| Evercore ISI | Analyst unavailable | $27 | $24.94 | -20.0% | Apr 10, 2026 |
| Morgan Stanley | Analyst unavailable | $22 | $27.25 | -34.8% | Feb 3, 2026 |
| Barclays | Analyst unavailable | $25 | $25.63 | -25.9% | Jan 15, 2026 |
| Barclays | Benjamin Budish | $22 | $23.46 | -34.8% | Dec 12, 2025 |
| Morgan Stanley | Michael Cyprys | $19 | $20.67 | -43.7% | Oct 18, 2024 |
| Barclays | Benjamin Budish | $20 | $20.74 | -40.7% | Aug 27, 2024 |
| Wells Fargo | Aidan Hall | $23 | $19.78 | -31.8% | Aug 22, 2024 |
| BMO Capital | Etienne Ricard | $26 | $23.08 | -22.9% | Jul 26, 2024 |
| Deutsche Bank | Brian Bedell | $29 | $27.2 | -14.0% | Apr 5, 2024 |
| CFRA | Catherine Seifert | $30 | $27.04 | -11.1% | Mar 14, 2024 |
| Wells Fargo | Analyst unavailable | $26 | $27.1 | -22.9% | Dec 15, 2022 |
| Goldman Sachs | Analyst unavailable | $23 | $26.42 | -31.8% | Nov 23, 2022 |
| Deutsche Bank | Analyst unavailable | $26 | $27.2 | -22.9% | Nov 15, 2022 |
| Morgan Stanley | Analyst unavailable | $20 | $22.22 | -40.7% | Oct 3, 2022 |
| Goldman Sachs | Analyst unavailable | $21 | $21.8 | -37.7% | Oct 3, 2022 |
| Deutsche Bank | Analyst unavailable | $29 | $28.96 | -14.0% | Aug 12, 2022 |
| UBS | Analyst unavailable | $27 | $27.62 | -20.0% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $21 | $22.73 | -37.7% | Jun 30, 2022 |
| BMO Capital | James Fotheringham | $27 | $23.07 | -20.0% | Jun 14, 2022 |
| Deutsche Bank | Analyst unavailable | $25 | $25.14 | -25.9% | May 19, 2022 |
| KBW | Robert Lee | $45 | $36.98 | +33.4% | Nov 2, 2021 |
| Wells Fargo | Christopher Harris | $30 | $32.47 | -11.1% | May 5, 2021 |
| Barclays | Jeremy Campbell | $28 | $32.47 | -17.0% | May 5, 2021 |
Track every rating change on BEN the moment it posts. Free to start.
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 |
|---|---|---|---|---|
| RGA Reinsurance Group of America, Incorporated | FY2026 Q3 · Calendar Q4 2026 | +21.8% | +0.1% | RGA Q3: Premium growth and investment returns sustain strong results |
| RZC Reinsurance Group of America, Incorporated | FY2026 Q3 · Calendar Q4 2026 | — | +0.1% | RGA’s Q3 strength combined investment gains, favorable claims and new-business momentum |
| BAM Brookfield Asset Management Ltd. | FY2026 Q3 · Calendar Q4 2026 | — | -0.4% | Brookfield Q3: Record Fundraising, AI Projects and Early Carry |
| FNF Fidelity National Financial, Inc. | FY2026 Q3 · Calendar Q4 2026 | 0.0% | +6.6% | FNF posts strong title and commercial trends as revenue misses estimates |
| 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 |
Latest beats and misses
Who reports nextBeat on EPS
- AEEFY2026 Q3 · November 5, 2026+5.7% EPS+0.0% move
- SUZFY2026 Q3 · November 5, 2026+94.1% EPS+1.7% move
- DVNFY2026 Q3 · November 5, 2026+6.8% EPS-1.6% move
- RGAFY2026 Q3 · November 5, 2026+21.8% EPS+0.1% move
- REGFY2026 Q3 · November 5, 2026+94.1% EPS-1.4% move
- EOGFY2026 Q3 · November 5, 2026+8.9% EPS+2.2% move
Missed on EPS
- REGCOFY2026 Q3 · November 5, 2026-32.6% EPS+2.0% move
- REGCPFY2026 Q3 · November 5, 2026-32.6% EPS+0.6% move
- DKNGFY2026 Q3 · November 5, 2026-29.2% EPS-23.4% move
- WPMFY2026 Q3 · November 5, 2026-1.1% EPS+2.2% move
- CPTFY2026 Q3 · November 5, 2026-27.2% EPS-3.1% move
- VMRKFY2026 Q3 · November 4, 2026-425.6% EPS+2.4% move
Get the BEN recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-11-06T23:06:41.285134+00:00
- FN2 earnings calendar · 2026-11-06T01:23:16.275024+00:00
- Polygon adjusted daily market bars · 2026-11-07T00:00:47.320719+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-07T00:00:47.318058+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 2026-11-07. For educational purposes only; not investment advice.