Brokerages expect Franklin Electric Co. (NASDAQ:FELE) to post sales of $323.11 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Franklin Electric’s earnings, with the highest sales estimate coming in at $324.60 million and the lowest estimate coming in at $321.62 million. Franklin Electric reported sales of $316.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The firm is expected to report its next earnings report on Tuesday, February 18th.
On average, analysts expect that Franklin Electric will report full year sales of $1.32 billion for the current financial year, with estimates ranging from $1.32 billion to $1.33 billion. For the next financial year, analysts forecast that the company will post sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.37 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Franklin Electric.
Franklin Electric (NASDAQ:FELE) last posted its quarterly 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. Franklin Electric had a net margin of 7.62% and a return on equity of 13.46%. The firm had revenue of $348.41 million for the quarter, compared to analysts’ expectations of $353.82 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis.
FELE has been the topic of several recent analyst reports. BidaskClub upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $54.00.
In other Franklin Electric news, CEO Gregg C. Sengstack sold 8,008 shares of Franklin Electric stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.37, for a total value of $435,394.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Delancey W. Davis sold 820 shares of Franklin Electric stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $48.83, for a total transaction of $40,040.60. Following the completion of the sale, the insider now owns 18,486 shares in the company, valued at $902,671.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,699 shares of company stock worth $1,090,336. 2.88% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Impax Asset Management Group plc boosted its stake in shares of Franklin Electric by 10.1% during the 2nd quarter. Impax Asset Management Group plc now owns 2,872,860 shares of the industrial products company’s stock worth $136,461,000 after purchasing an additional 263,676 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Franklin Electric during the 2nd quarter worth about $9,727,000. Wells Fargo & Company MN boosted its stake in shares of Franklin Electric by 8.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,017,655 shares of the industrial products company’s stock worth $95,840,000 after purchasing an additional 158,355 shares during the period. AQR Capital Management LLC boosted its stake in shares of Franklin Electric by 3,156.7% during the 2nd quarter. AQR Capital Management LLC now owns 137,726 shares of the industrial products company’s stock worth $6,542,000 after purchasing an additional 133,497 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Franklin Electric by 60.2% during the 2nd quarter. Morgan Stanley now owns 322,596 shares of the industrial products company’s stock worth $15,325,000 after purchasing an additional 121,166 shares during the period. Institutional investors own 77.09% of the company’s stock.
Shares of NASDAQ:FELE traded up $0.15 during trading on Thursday, reaching $54.46. 78,200 shares of the stock traded hands, compared to its average volume of 146,843. The stock has a market cap of $2.53 billion, a P/E ratio of 24.10 and a beta of 1.30. Franklin Electric has a 52-week low of $39.92 and a 52-week high of $55.63. The stock has a 50-day moving average of $49.25 and a two-hundred day moving average of $46.97. 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 also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.145 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.58 dividend on an annualized basis and a yield of 1.07%. Franklin Electric’s dividend 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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