Wall Street analysts forecast that Franklin Electric Co. (NASDAQ:FELE) will post sales of $344.63 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Franklin Electric’s earnings. The lowest sales estimate is $339.10 million and the highest is $352.80 million. Franklin Electric posted sales of $311.11 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.8%. The company is scheduled to report its next quarterly earnings report 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 fiscal year, analysts anticipate that the business 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 analysts that cover Franklin Electric.

Franklin Electric (NASDAQ:FELE) last posted 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 business had revenue of $344.00 million for the quarter, compared to analyst estimates of $348.65 million. Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS.

A number of research firms have weighed in on FELE. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Friday, June 1st. ValuEngine upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. DA Davidson began coverage on Franklin Electric in a report on Monday, June 11th. They issued a “neutral” rating and a $50.00 price target for the company. Finally, BidaskClub upgraded Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.80.

FELE traded up $0.65 on Friday, reaching $49.65. 60,665 shares of the company’s stock were exchanged, compared to its average volume of 116,603. The company has a market cap of $2.29 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.51 and a beta of 1.58. Franklin Electric has a twelve month low of $38.45 and a twelve month high of $50.30. 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Thursday, August 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, August 1st. Franklin Electric’s dividend payout ratio is presently 25.00%.

In other news, VP Donald P. Kenney sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $49.00, for a total transaction of $73,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Steven William Aikman sold 3,500 shares of the 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 transaction, the vice president now owns 18,515 shares of the company’s stock, valued at $923,713.35. The disclosure for this sale can be found here. 2.54% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Franklin Electric by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock valued at $365,000 after buying an additional 1,108 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Franklin Electric by 1.5% during the 1st quarter. Legal & General Group Plc now owns 82,480 shares of the industrial products company’s stock valued at $3,335,000 after buying an additional 1,238 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Franklin Electric by 11.2% during the 1st quarter. Citigroup Inc. now owns 12,370 shares of the industrial products company’s stock valued at $504,000 after buying an additional 1,250 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Franklin Electric by 20.6% during the 1st quarter. Profund Advisors LLC now owns 7,376 shares of the industrial products company’s stock valued at $301,000 after buying an additional 1,260 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Franklin Electric by 1.4% during the 1st quarter. Rhumbline Advisers now owns 108,734 shares of the industrial products company’s stock valued at $4,431,000 after buying an additional 1,495 shares during the last quarter. Institutional investors own 78.47% 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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Earnings History and Estimates for Franklin Electric (NASDAQ:FELE)

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