Zacks: Brokerages Expect Franklin Electric Co. (NASDAQ:FELE) Will Post Quarterly Sales of $357.49 Million
Equities analysts expect that Franklin Electric Co. (NASDAQ:FELE) will announce $357.49 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Franklin Electric’s earnings, with the highest sales estimate coming in at $361.68 million and the lowest estimate coming in at $355.10 million. Franklin Electric reported sales of $341.87 million during the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The firm is expected to report its next quarterly earnings report on Friday, October 25th.
According to Zacks, analysts expect that Franklin Electric will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.34 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.39 billion, with estimates ranging from $1.37 billion to $1.41 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 posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.04). The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $358.31 million. Franklin Electric had a net margin of 7.36% and a return on equity of 13.17%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS.
In related news, VP Donald P. Kenney sold 1,313 shares of Franklin Electric stock in a transaction on Friday, June 14th. The shares were sold at an average price of $46.21, for a total value of $60,673.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John J. Haines sold 18,600 shares of Franklin Electric stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.07, for a total transaction of $875,502.00. Following the completion of the transaction, the vice president now owns 64,043 shares in the company, valued at approximately $3,014,504.01. The disclosure for this sale can be found here. 2.88% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Earnest Partners LLC boosted its stake in 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 worth $101,183,000 after acquiring an additional 19,417 shares in the last quarter. BlackRock Inc. boosted its stake in Franklin Electric by 0.5% during the second quarter. BlackRock Inc. now owns 6,141,278 shares of the industrial products company’s stock worth $291,711,000 after acquiring an additional 30,506 shares in the last quarter. ETRADE Capital Management LLC boosted its stake in Franklin Electric by 4.1% during the second quarter. ETRADE Capital Management LLC now owns 18,804 shares of the industrial products company’s stock worth $893,000 after acquiring an additional 738 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in Franklin Electric by 194.6% during the second quarter. Pinebridge Investments L.P. now owns 27,588 shares of the industrial products company’s stock worth $1,310,000 after acquiring an additional 18,222 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in 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 worth $136,461,000 after acquiring an additional 263,676 shares in the last quarter. Institutional investors own 77.66% of the company’s stock.
Shares of Franklin Electric stock traded up $0.87 on Thursday, hitting $45.53. 71,897 shares of the company traded hands, compared to its average volume of 157,045. The company’s 50-day simple moving average is $46.10. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.11 billion, a P/E ratio of 20.15, a P/E/G ratio of 4.12 and a beta of 1.31. Franklin Electric has a 12-month low of $38.87 and a 12-month high of $55.59.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, July 31st. Franklin Electric’s payout ratio is presently 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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