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Barchart
Barchart
Mark R. Hake, CFA

This 'Buy on Bad News' Stock Is a Bargain With its 6.38% Yield

BEN Franklin Resources Franklin Templeton Morningstar

Franklin Resources (BEN), parent company of the Franklin Templeton asset manager, reported lower Q1 earnings and assets under management (AUM) flows. However, BEN stock has already discounted this. With its 6.38% dividend yield and less than a 10x forward price/earnings (P/E) multiple, it is a buy here.

BEN closed at $20.06 on Friday, May 2, up 7% after releasing its Q1 earnings report earlier before the market opened. This is up from its low of $16.66 on April 8, but well off its high of $22.24 on Jan. 31 and an earlier peak of $22.76 on Nov. 29.

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