Zacks: Brokerages Expect Franklin Electric Co. (NASDAQ:FELE) Will Post Quarterly Sales of $357.49 Million
Wall Street analysts forecast that Franklin Electric Co. (NASDAQ:FELE) will report $357.49 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Franklin Electric’s earnings, with the lowest sales estimate coming in at $355.10 million and the highest estimate coming in at $361.68 million. Franklin Electric reported sales of $341.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The business is scheduled to report its next quarterly earnings report on Friday, October 25th.
On average, analysts expect that Franklin Electric will report full-year sales of $1.33 billion for the current year, with estimates ranging from $1.33 billion to $1.34 billion. For the next 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’ sales calculations are a mean average based on a survey of sell-side analysts that follow Franklin Electric.
Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.04). The business had revenue of $355.30 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS.
In other Franklin Electric news, VP John J. Haines sold 18,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $47.07, for a total transaction of $875,502.00. Following the sale, the vice president now directly owns 64,043 shares of the company’s stock, valued at approximately $3,014,504.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald P. Kenney sold 1,313 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $46.21, for a total transaction of $60,673.73. The disclosure for this sale can be found here. Insiders own 2.88% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Franklin Electric in the 1st quarter worth approximately $536,000. GYL Financial Synergies LLC purchased a new stake in shares of Franklin Electric in the first quarter worth about $929,000. Piedmont Investment Advisors Inc. lifted its holdings in shares of Franklin Electric by 6.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 9,949 shares of the industrial products company’s stock worth $508,000 after buying an additional 583 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Franklin Electric by 13.0% in the first quarter. Tributary Capital Management LLC now owns 438,795 shares of the industrial products company’s stock worth $22,418,000 after buying an additional 50,543 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Franklin Electric by 3.2% in the fourth quarter. Legal & General Group Plc now owns 95,645 shares of the industrial products company’s stock worth $4,091,000 after buying an additional 2,955 shares in the last quarter. 77.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:FELE traded up $0.87 on Thursday, hitting $45.53. 71,897 shares of the company were exchanged, compared to its average volume of 157,045. The firm’s 50 day moving average price is $46.10. Franklin Electric has a one year low of $38.87 and a one year high of $55.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.15 and a quick ratio of 0.98. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 4.12 and a beta of 1.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, July 31st. Franklin Electric’s dividend payout ratio (DPR) is presently 25.66%.
About Franklin Electric
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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