Franklin Electric Co., Inc. (NASDAQ:FELE) Expected to Post Quarterly Sales of $384.58 Million

Last updated on Sunday, June 13, 2021 | 2021 MarketBeat

Brokerages expect that Franklin Electric Co., Inc. (NASDAQ:FELE) will announce sales of $384.58 million for the current quarter, according to Zacks. Two analysts have made estimates for Franklin Electric's earnings. The lowest sales estimate is $370.86 million and the highest is $398.30 million. Franklin Electric reported sales of $308.28 million in the same quarter last year, which indicates a positive year over year growth rate of 24.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Franklin Electric will report full-year sales of $1.50 billion for the current financial year. For the next year, analysts forecast that the business will report sales of $1.52 billion, with estimates ranging from $1.46 billion to $1.57 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research analysts that cover Franklin Electric.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Monday, April 26th. The industrial products company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.37 by $0.22. Franklin Electric had a net margin of 8.96% and a return on equity of 14.37%. The firm had revenue of $333.05 million for the quarter, compared to analysts' expectations of $300.60 million. During the same period in the previous year, the business earned $0.24 earnings per share. Franklin Electric's revenue for the quarter was up 24.9% compared to the same quarter last year.

FELE has been the topic of several research reports. Zacks Investment Research upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating and set a $92.00 price target on the stock in a research report on Wednesday, April 28th. DA Davidson boosted their price objective on Franklin Electric from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Monday, March 22nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Franklin Electric currently has an average rating of "Buy" and a consensus price target of $79.67.

Shares of Franklin Electric stock opened at $80.86 on Friday. The company has a current ratio of 3.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $82.63. Franklin Electric has a 52 week low of $48.43 and a 52 week high of $87.70. The company has a market capitalization of $3.76 billion, a PE ratio of 32.34 and a beta of 1.01.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th were issued a dividend of $0.175 per share. The ex-dividend date was Wednesday, May 5th. This represents a $0.70 annualized dividend and a yield of 0.87%. Franklin Electric's payout ratio is presently 32.11%.

In other news, CFO John J. Haines sold 2,000 shares of the company's stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $84.87, for a total value of $169,740.00. Following the transaction, the chief financial officer now owns 53,179 shares in the company, valued at approximately $4,513,301.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John J. Haines sold 6,000 shares of the company's stock in a transaction dated Friday, May 21st. The shares were sold at an average price of $81.32, for a total value of $487,920.00. In the last 90 days, insiders have sold 8,400 shares of company stock worth $690,660. Corporate insiders own 2.90% of the company's stock.

Several institutional investors and hedge funds have recently modified their holdings of FELE. Norges Bank acquired a new position in shares of Franklin Electric in the 4th quarter valued at about $46,402,000. BlackRock Inc. grew its stake in shares of Franklin Electric by 5.3% in the 4th quarter. BlackRock Inc. now owns 6,949,755 shares of the industrial products company's stock valued at $480,992,000 after buying an additional 349,965 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Franklin Electric by 9.2% in the 1st quarter. Earnest Partners LLC now owns 2,578,882 shares of the industrial products company's stock valued at $203,577,000 after buying an additional 218,169 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Franklin Electric by 39.0% in the 1st quarter. Allianz Asset Management GmbH now owns 655,810 shares of the industrial products company's stock valued at $51,769,000 after buying an additional 184,162 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Franklin Electric in the 1st quarter valued at approximately $6,975,000. Institutional investors own 76.71% 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.

Featured Article: What is the Difference Between Common Shares and Convertible Shares?

Get a free copy of the Zacks research report on Franklin Electric (FELE)

For more information about research offerings from Zacks Investment Research, visit

Earnings History and Estimates for Franklin Electric (NASDAQ:FELE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Investing in Blue-Chip Stocks

7 Forever Stocks That Are Never Bad to Buy

Investors thought 2021 would be a less volatile year. That narrative has run into some problems. Sure, all the major indexes are up for the year. And that’s despite the NASDAQ’s gut-wrenching 10% drop in March.

But many investors don’t feel much like celebrating. In fact, many are concerned about the liquidity that continues to be pumped into the stock market. In 2020, the pandemic flooded the economy with $6 trillion dollars of stimulus.

However, in the last few months, the Federal Reserve has introduced another $6 trillion into the economy. We would have stopped counting, but the math is pretty easy. It’s $12.3 trillion that has flooded into the economy.

Eventually, this is going to end badly. But timing the market is an imperfect science particularly when many investors are enjoying the game.

Fortunately, there’s a way to safeguard your portfolio without abandoning equities. That has to do with investing in forever stocks. Forever stocks aren’t magic beans. They don’t go up forever. But they are stocks that have stood the test of time. And investing in these stocks will keep your portfolio heading in the right direction.

With that in mind, we’ve put together this special presentation that showcases seven of these forever stocks. These are all stocks that are household names, but that’s kind of the point. You don’t need special knowledge. You just have to recognize that these are companies that consistently do right by their shareholders.

View the "7 Forever Stocks That Are Never Bad to Buy".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.