Wall Street analysts predict that Franklin Electric Co. (NASDAQ:FELE) will report sales of $323.11 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Franklin Electric’s earnings. The highest sales estimate is $324.60 million and the lowest is $321.62 million. Franklin Electric reported sales of $316.66 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is scheduled to issue its next earnings report on Tuesday, February 18th.
According to Zacks, analysts expect that Franklin Electric will report full year sales of $1.32 billion for the current year, with estimates ranging from $1.32 billion to $1.33 billion. For the next year, analysts anticipate that the company will report sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Franklin Electric.
Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $348.41 million for the quarter, compared to analysts’ expectations of $353.82 million. Franklin Electric had a return on equity of 13.46% and a net margin of 7.62%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share.
FELE has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday. Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a report on Tuesday, October 15th. Finally, BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.00.
In related news, CEO Gregg C. Sengstack sold 8,008 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.37, for a total value of $435,394.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven William Aikman sold 4,608 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $54.51, for a total transaction of $251,182.08. Following the completion of the transaction, the vice president now directly owns 19,406 shares of the company’s stock, valued at $1,057,821.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,699 shares of company stock valued at $1,090,336. 2.88% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in FELE. BlackRock Inc. increased its stake in shares of Franklin Electric by 0.5% during the second quarter. BlackRock Inc. now owns 6,141,278 shares of the industrial products company’s stock valued at $291,711,000 after purchasing an additional 30,506 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Franklin Electric by 10.1% during the second quarter. Impax Asset Management Group plc now owns 2,872,860 shares of the industrial products company’s stock valued at $136,461,000 after purchasing an additional 263,676 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Franklin Electric by 0.9% during the second quarter. Earnest Partners LLC now owns 2,130,166 shares of the industrial products company’s stock valued at $101,183,000 after purchasing an additional 19,417 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Franklin Electric by 8.5% during the second quarter. Wells Fargo & Company MN now owns 2,017,655 shares of the industrial products company’s stock valued at $95,840,000 after purchasing an additional 158,355 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of Franklin Electric by 1.8% during the second quarter. King Luther Capital Management Corp now owns 1,242,118 shares of the industrial products company’s stock valued at $59,001,000 after purchasing an additional 22,555 shares in the last quarter. 77.09% of the stock is owned by institutional investors.
FELE traded up $0.15 during trading on Thursday, reaching $54.46. The stock had a trading volume of 78,200 shares, compared to its average volume of 146,843. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 2.40. The business has a 50-day moving average of $49.25 and a 200-day moving average of $46.97. The stock has a market cap of $2.53 billion, a PE ratio of 24.10 and a beta of 1.30. Franklin Electric has a one year low of $39.92 and a one year high of $55.63.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, October 31st. Franklin Electric’s payout ratio is currently 25.66%.
Franklin Electric Company Profile
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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