Franklin Electric Co. (FELE) Expected to Announce Quarterly Sales of $340.50 Million
Equities analysts predict that Franklin Electric Co. (NASDAQ:FELE) will post sales of $340.50 million for the current quarter, according to Zacks. Three analysts have issued estimates for Franklin Electric’s earnings, with the highest sales estimate coming in at $352.80 million and the lowest estimate coming in at $326.70 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 9.4%. The business is scheduled to report its next quarterly earnings results before the market opens on Friday, October 26th.
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 $1.27 billion to $1.32 billion. For the next fiscal year, analysts expect that the business will report sales of $1.36 billion, with estimates ranging from $1.32 billion to $1.39 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Franklin Electric.
Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). Franklin Electric had a net margin of 6.80% and a return on equity of 13.65%. The firm had revenue of $344.00 million for the quarter, compared to the consensus estimate of $348.65 million. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis.
Shares of FELE traded down $1.47 during trading hours on Friday, reaching $41.71. 290,100 shares of the stock traded hands, compared to its average volume of 117,453. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.06 and a quick ratio of 1.00. Franklin Electric has a 52 week low of $38.45 and a 52 week high of $51.45. The firm has a market capitalization of $2.07 billion, a P/E ratio of 22.02, a PEG ratio of 2.30 and a beta of 1.56.
In related news, VP Steven William Aikman sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $50.21, for a total transaction of $75,315.00. Following the transaction, the vice president now directly owns 16,515 shares of the company’s stock, valued at $829,218.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,500 shares of company stock worth $323,430 over the last three months. 2.54% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in FELE. BlackRock Inc. raised its position in Franklin Electric by 7.9% in the second quarter. BlackRock Inc. now owns 5,791,470 shares of the industrial products company’s stock worth $261,196,000 after acquiring an additional 424,345 shares during the period. Channing Capital Management LLC raised its position in Franklin Electric by 12.7% in the second quarter. Channing Capital Management LLC now owns 1,392,867 shares of the industrial products company’s stock worth $62,818,000 after acquiring an additional 156,908 shares during the period. Tributary Capital Management LLC raised its position in Franklin Electric by 19.4% in the second quarter. Tributary Capital Management LLC now owns 458,304 shares of the industrial products company’s stock worth $20,670,000 after acquiring an additional 74,477 shares during the period. Wells Fargo & Company MN raised its position in Franklin Electric by 4.1% in the second quarter. Wells Fargo & Company MN now owns 1,844,728 shares of the industrial products company’s stock worth $83,197,000 after acquiring an additional 71,919 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Franklin Electric by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,705,353 shares of the industrial products company’s stock worth $76,912,000 after acquiring an additional 32,696 shares during the period. 77.99% of the stock is currently owned by institutional investors and hedge funds.
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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