Wall Street analysts expect that Franklin Electric Co. (NASDAQ:FELE) will announce sales of $344.63 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Franklin Electric’s earnings. The lowest sales estimate is $339.10 million and the highest is $352.80 million. Franklin Electric reported sales of $311.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.8%. The business is scheduled to report its next earnings report on Tuesday, October 23rd.
On average, analysts expect that Franklin Electric will report full year sales of $1.30 billion for the current fiscal year, with estimates ranging from $1.29 billion to $1.32 billion. For the next financial year, analysts forecast that the firm will report sales of $1.37 billion per share, with estimates ranging from $1.35 billion to $1.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Franklin Electric.
Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.05). The firm had revenue of $344.00 million for the quarter, compared to analyst estimates of $348.65 million. Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share.
Several research analysts have recently weighed in on FELE shares. Zacks Investment Research upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Friday, June 1st. BidaskClub upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Thursday, April 19th. ValuEngine upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Finally, DA Davidson started coverage on shares of Franklin Electric in a research note on Monday, June 11th. They set a “neutral” rating and a $50.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.80.
Shares of Franklin Electric stock traded down $0.65 during trading on Friday, hitting $48.25. 67,466 shares of the stock were exchanged, compared to its average volume of 135,300. The firm has a market capitalization of $2.28 billion, a PE ratio of 25.13, a P/E/G ratio of 2.51 and a beta of 1.58. Franklin Electric has a 1-year low of $37.60 and a 1-year high of $49.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.06 and a quick ratio of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 16th. Investors of record on Thursday, August 2nd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 1st. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. Franklin Electric’s dividend payout ratio (DPR) is currently 25.00%.
In related news, VP Donald P. Kenney sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $49.00, for a total value of $73,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Steven William Aikman sold 3,000 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $46.02, for a total transaction of $138,060.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,158 shares of company stock worth $241,894. 2.54% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new position in Franklin Electric in the 4th quarter valued at about $208,000. Pitcairn Co. acquired a new position in Franklin Electric in the 1st quarter valued at about $219,000. SG Americas Securities LLC boosted its holdings in Franklin Electric by 104.2% in the 1st quarter. SG Americas Securities LLC now owns 6,939 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 3,541 shares during the period. Victory Capital Management Inc. boosted its holdings in Franklin Electric by 41.6% in the 1st quarter. Victory Capital Management Inc. now owns 6,987 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 2,052 shares during the period. Finally, Profund Advisors LLC boosted its holdings in Franklin Electric by 20.6% in the 1st quarter. Profund Advisors LLC now owns 7,376 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 1,260 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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