$344.63 Million in Sales Expected for Franklin Electric Co. (FELE) This Quarter
Wall Street brokerages expect that Franklin Electric Co. (NASDAQ:FELE) will post sales of $344.63 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued 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 would indicate a positive year over year growth rate of 10.8%. The company is expected to announce 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 year, analysts anticipate that the company 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 analysts that that provide coverage for Franklin Electric.
Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.05). Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The company had revenue of $344.00 million for the quarter, compared to the consensus estimate of $348.65 million. During the same period in the prior year, the company earned $0.58 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year.
In related news, VP Donald P. Kenney sold 1,500 shares of the firm’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 document filed with the SEC, which can be accessed through this hyperlink. Also, VP Steven William Aikman sold 3,000 shares of the firm’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. Insiders have sold 5,158 shares of company stock worth $241,894 over the last three months. 2.54% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Franklin Electric by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,672,657 shares of the industrial products company’s stock valued at $68,161,000 after purchasing an additional 30,557 shares in the last quarter. Swiss National Bank increased its holdings in 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 buying an additional 2,400 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Franklin Electric by 67.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 110,182 shares of the industrial products company’s stock worth $5,057,000 after buying an additional 44,225 shares during the last quarter. Silvant Capital Management LLC purchased a new stake in Franklin Electric during the first quarter worth about $310,000. Finally, Aperio Group LLC increased its holdings in Franklin Electric by 23.9% during the first quarter. Aperio Group LLC now owns 28,551 shares of the industrial products company’s stock worth $1,163,000 after buying an additional 5,513 shares during the last quarter. 77.24% of the stock is currently owned by institutional investors.
Shares of Franklin Electric stock traded down $0.65 during trading hours on Friday, reaching $48.25. The company’s stock had a trading volume of 67,466 shares, compared to its average volume of 135,300. Franklin Electric has a one year low of $37.60 and a one year high of $49.50. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.51 and a beta of 1.58. The company has a current ratio of 2.06, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 16th. Shareholders of record on Thursday, August 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Wednesday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is 25.00%.
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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