Wall Street brokerages forecast 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, with estimates ranging from $339.10 million to $352.80 million. Franklin Electric posted sales of $311.11 million in the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The business is expected to report its next earnings results on Tuesday, October 23rd.
On average, analysts expect that Franklin Electric will report full-year sales of $1.30 billion for the current financial year, with estimates ranging from $1.29 billion to $1.32 billion. For the next financial year, analysts expect that the firm will post sales of $1.37 billion per share, with estimates ranging from $1.35 billion to $1.39 billion. Zacks’ 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 earnings results on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). The firm had revenue of $344.00 million during the quarter, compared to analysts’ expectations of $348.65 million. Franklin Electric had a net margin of 6.80% and a return on equity of 13.65%. Franklin Electric’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.58 earnings per share.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. BidaskClub lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. DA Davidson assumed coverage on shares of Franklin Electric in a report on Monday, June 11th. They issued a “neutral” rating and a $50.00 target price on the stock. Finally, ValuEngine upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Franklin Electric has a consensus rating of “Hold” and a consensus price target of $48.80.
NASDAQ:FELE opened at $48.65 on Friday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.53 and a beta of 1.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 2.06. Franklin Electric has a 12-month low of $37.65 and a 12-month high of $50.30.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Thursday, August 2nd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 1st. Franklin Electric’s dividend payout ratio is currently 25.00%.
In other 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 transaction of $73,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Steven William Aikman sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $49.89, for a total transaction of $174,615.00. Following the transaction, the vice president now directly owns 18,515 shares of the company’s stock, valued at approximately $923,713.35. The disclosure for this sale can be found here. Corporate insiders own 2.54% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Franklin Electric by 7.9% during the 2nd quarter. BlackRock Inc. now owns 5,791,470 shares of the industrial products company’s stock valued at $261,196,000 after acquiring an additional 424,345 shares during the last quarter. Earnest Partners LLC increased its position in Franklin Electric by 0.3% during the 2nd quarter. Earnest Partners LLC now owns 2,137,877 shares of the industrial products company’s stock worth $96,418,000 after purchasing an additional 6,258 shares in the last quarter. Wells Fargo & Company MN increased its position in Franklin Electric by 4.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,844,728 shares of the industrial products company’s stock worth $83,197,000 after purchasing an additional 71,919 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Franklin Electric by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,705,353 shares of the industrial products company’s stock worth $76,912,000 after purchasing an additional 32,696 shares in the last quarter. Finally, Channing Capital Management LLC increased its position in Franklin Electric by 12.7% during the 2nd quarter. Channing Capital Management LLC now owns 1,392,867 shares of the industrial products company’s stock worth $62,818,000 after purchasing an additional 156,908 shares in the last quarter. 79.50% of the stock is owned by institutional investors.
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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