Wall Street analysts expect Franklin Electric Co. (NASDAQ:FELE) to announce earnings per share (EPS) of $0.66 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Franklin Electric’s earnings, with estimates ranging from $0.60 to $0.70. Franklin Electric reported earnings per share of $0.53 during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.5%. The firm is expected to report its next quarterly earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Franklin Electric will report full year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.32. For the next financial year, analysts expect that the business will post earnings of $2.48 per share, with EPS estimates ranging from $2.43 to $2.55. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Franklin Electric.
Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.05). Franklin Electric had a net margin of 6.80% and a return on equity of 13.65%. The company had revenue of $344.00 million for the quarter, compared to analyst estimates of $348.65 million. During the same period last year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis.
Several research analysts recently commented on the company. BidaskClub cut Franklin Electric from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine cut Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, DA Davidson assumed coverage on Franklin Electric in a research report on Monday, June 11th. They set a “neutral” rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Franklin Electric presently has a consensus rating of “Hold” and an average target price of $48.80.
NASDAQ FELE traded down $0.10 during trading hours on Monday, hitting $46.90. 11 shares of the company traded hands, compared to its average volume of 101,356. Franklin Electric has a twelve month low of $38.45 and a twelve month high of $51.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 2.06. The stock has a market capitalization of $2.22 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 2.46 and a beta of 1.58.
In other Franklin Electric news, VP Donald P. Kenney sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $49.00, for a total value of $73,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Steven William Aikman sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $49.89, for a total value of $174,615.00. Following the completion of the sale, the vice president now owns 18,515 shares in the company, valued at approximately $923,713.35. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $323,430 in the last 90 days. Corporate insiders own 2.54% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FELE. SG Americas Securities LLC raised its stake in Franklin Electric by 104.2% in the first quarter. SG Americas Securities LLC now owns 6,939 shares of the industrial products company’s stock valued at $283,000 after buying an additional 3,541 shares during the period. Victory Capital Management Inc. raised its stake in Franklin Electric by 41.6% in the first quarter. Victory Capital Management Inc. now owns 6,987 shares of the industrial products company’s stock valued at $285,000 after buying an additional 2,052 shares during the period. Prudential Financial Inc. increased its stake in shares of Franklin Electric by 2.7% during the first quarter. Prudential Financial Inc. now owns 68,402 shares of the industrial products company’s stock worth $2,787,000 after purchasing an additional 1,800 shares during the period. Swiss National Bank increased its stake in shares of Franklin Electric by 3.6% during the first quarter. Swiss National Bank now owns 68,900 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 2,400 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Franklin Electric by 8.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 311,561 shares of the industrial products company’s stock worth $12,697,000 after purchasing an additional 24,991 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.
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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