$312.52 Million in Sales Expected for Franklin Electric Co. (FELE) This Quarter

Equities research analysts predict that Franklin Electric Co. (NASDAQ:FELE) will post sales of $312.52 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Franklin Electric’s earnings, with estimates ranging from $300.73 million to $324.30 million. Franklin Electric posted sales of $239.59 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.4%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.

On average, analysts expect that Franklin Electric will report full year sales of $312.52 million for the current year, with estimates ranging from $1.12 billion to $1.16 billion. For the next year, analysts anticipate that the business will post sales of $1.31 billion per share, with estimates ranging from $1.22 billion to $1.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Franklin Electric.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $311.11 million for the quarter, compared to analysts’ expectations of $317.54 million. Franklin Electric had a return on equity of 13.09% and a net margin of 8.13%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share.

Several equities analysts recently commented on the company. BidaskClub lowered Franklin Electric from a “hold” rating to a “sell” rating in a report on Wednesday. Seaport Global Securities reissued a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. Robert W. Baird increased their target price on Franklin Electric from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Boenning Scattergood reaffirmed a “buy” rating on shares of Franklin Electric in a report on Tuesday, October 24th. Finally, Zacks Investment Research lowered Franklin Electric from a “buy” rating to a “hold” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.33.

In other Franklin Electric news, VP Donald P. Kenney sold 4,754 shares of Franklin Electric stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of the sale, the vice president now directly owns 19,129 shares of the company’s stock, valued at approximately $860,805. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.54% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Franklin Electric by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,897,548 shares of the industrial products company’s stock valued at $161,359,000 after buying an additional 41,940 shares during the period. Earnest Partners LLC grew its stake in shares of Franklin Electric by 1.9% during the 3rd quarter. Earnest Partners LLC now owns 2,291,853 shares of the industrial products company’s stock valued at $102,790,000 after buying an additional 43,036 shares during the period. Impax Asset Management LTD grew its stake in shares of Franklin Electric by 18.7% during the 3rd quarter. Impax Asset Management LTD now owns 1,816,445 shares of the industrial products company’s stock valued at $81,468,000 after buying an additional 285,940 shares during the period. Wells Fargo & Company MN grew its stake in shares of Franklin Electric by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,700,634 shares of the industrial products company’s stock valued at $70,406,000 after buying an additional 76,710 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Franklin Electric by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,629,982 shares of the industrial products company’s stock valued at $73,105,000 after buying an additional 35,564 shares during the period. 76.94% of the stock is owned by institutional investors.

Shares of Franklin Electric (NASDAQ FELE) opened at $44.75 on Thursday. The stock has a market capitalization of $2,090.00, a price-to-earnings ratio of 23.80 and a beta of 1.62. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. Franklin Electric has a 52 week low of $36.00 and a 52 week high of $47.20.

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About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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