02:55 AM EDT, 05/12/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price of $22, valuing BEN shares at 9.3x our FY 26 (Sep.) adj. EPS estimate of $2.37 (cut by $0.20) and at 10.6x our FY 25 EPS estimate of $2.07 (cut by $0.37), versus the 10.4x average forward multiple of BEN's closest asset manager peers. FQ2 adjusted EPS of $0.47 versus $0.56, compared to the consensus EPS estimate of $0.48 and our EPS forecast of $0.59. FQ2 GAAP EPS was $0.26, versus $0.29 a year ago. Operating revenues fell 2% Y/Y, lagging our forecast of a 5% to 8% revenue rise. Investment management fees (BEN's primary revenue source) fell by 2%, while shareholder servicing fees declined by 9% and distribution fees rose by 2%. Operating margins were aided by a 3% decline in operating expenses. But, assets under management (AUM) fell 10% Y/Y to $1.5 trillion, amid net long-term asset outflows of $26.2 billion, versus $6.9 billion of inflows a year ago. Persistent net asset outflows temper our enthusiasm for the shares, though we note they currently yield 6.3%.