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.
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