Analysts Expect Franklin Covey Company (NYSE:FC) Will Post Quarterly Sales of $64.87 Million
Equities analysts expect that Franklin Covey Company (NYSE:FC) will announce $64.87 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Franklin Covey’s earnings, with the highest sales estimate coming in at $67.39 million and the lowest estimate coming in at $61.00 million. Franklin Covey posted sales of $64.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Franklin Covey will report full-year sales of $64.87 million for the current fiscal year, with estimates ranging from $186.73 million to $194.27 million. For the next fiscal year, analysts anticipate that the business will report sales of $205.67 million per share, with estimates ranging from $198.00 million to $210.49 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Franklin Covey.
Franklin Covey (NYSE:FC) last announced its quarterly earnings data on Friday, June 30th. The business services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by $0.13. The firm had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $44.25 million. Franklin Covey had a negative net margin of 2.15% and a negative return on equity of 2.02%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS.
FC has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and set a $22.00 price objective on shares of Franklin Covey in a research note on Sunday, July 2nd. ValuEngine upgraded Franklin Covey from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut Franklin Covey from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research cut Franklin Covey from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Franklin Covey currently has an average rating of “Hold” and an average price target of $22.00.
In related news, Director Joel Clinton Peterson sold 1,792 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $19.45, for a total transaction of $34,854.40. Following the completion of the sale, the director now directly owns 230,657 shares in the company, valued at approximately $4,486,278.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 5,377 shares of company stock valued at $104,008 over the last 90 days. 33.50% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of FC. American International Group Inc. boosted its stake in shares of Franklin Covey by 7.3% in the first quarter. American International Group Inc. now owns 6,300 shares of the business services provider’s stock worth $127,000 after buying an additional 427 shares during the period. Woodmont Investment Counsel LLC bought a new stake in shares of Franklin Covey during the first quarter worth $141,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Franklin Covey during the fourth quarter worth $163,000. Wells Fargo & Company MN boosted its stake in shares of Franklin Covey by 24.5% in the first quarter. Wells Fargo & Company MN now owns 8,617 shares of the business services provider’s stock worth $174,000 after buying an additional 1,693 shares during the period. Finally, California Public Employees Retirement System bought a new stake in shares of Franklin Covey during the first quarter worth $210,000. Hedge funds and other institutional investors own 53.99% of the company’s stock.
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Franklin Covey (FC) opened at 18.00 on Tuesday. Franklin Covey has a 12 month low of $15.20 and a 12 month high of $22.45. The firm’s 50-day moving average price is $18.75 and its 200 day moving average price is $19.10. The stock’s market cap is $249.46 million.
About Franklin Covey
Franklin Covey Co is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group.
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