Franklin Covey Co. (FC) Expected to Announce Quarterly Sales of $46.50 Million

Wall Street analysts predict that Franklin Covey Co. (NYSE:FC) will post $46.50 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Franklin Covey’s earnings. The lowest sales estimate is $46.00 million and the highest is $47.17 million. Franklin Covey posted sales of $42.20 million during the same quarter last year, which suggests a positive year over year growth rate of 10.2%. The company is scheduled to report its next quarterly earnings report on Thursday, March 29th.

According to Zacks, analysts expect that Franklin Covey will report full-year sales of $46.50 million for the current financial year, with estimates ranging from $211.93 million to $212.50 million. For the next financial year, analysts forecast that the business will report sales of $232.44 million per share, with estimates ranging from $228.10 million to $240.64 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Franklin Covey.

Franklin Covey (NYSE:FC) last issued its earnings results on Thursday, January 4th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.16. Franklin Covey had a negative return on equity of 3.79% and a negative net margin of 2.90%. The business had revenue of $47.90 million during the quarter, compared to the consensus estimate of $43.47 million. During the same period last year, the company earned ($0.29) EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis.

A number of analysts have issued reports on the company. Barrington Research raised Franklin Covey from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 9th. Zacks Investment Research upgraded Franklin Covey from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, B. Riley reiterated a “buy” rating and set a $22.00 price target on shares of Franklin Covey in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.00.

In other news, Director Joel Clinton Peterson sold 1,793 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $19.13, for a total transaction of $34,300.09. Following the completion of the transaction, the director now directly owns 223,487 shares in the company, valued at approximately $4,275,306.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 33.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its holdings in Franklin Covey by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,208 shares of the business services provider’s stock valued at $931,000 after acquiring an additional 342 shares during the period. Bank of New York Mellon Corp boosted its holdings in Franklin Covey by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,236 shares of the business services provider’s stock valued at $1,529,000 after acquiring an additional 646 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Franklin Covey by 9.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,948 shares of the business services provider’s stock valued at $172,000 after acquiring an additional 740 shares during the period. Teachers Advisors LLC boosted its holdings in Franklin Covey by 13.0% during the 2nd quarter. Teachers Advisors LLC now owns 19,159 shares of the business services provider’s stock valued at $370,000 after acquiring an additional 2,211 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Franklin Covey by 30.8% during the 2nd quarter. California Public Employees Retirement System now owns 13,592 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 3,200 shares during the period. Institutional investors and hedge funds own 49.51% of the company’s stock.

Shares of Franklin Covey (NYSE FC) opened at $30.00 on Friday. Franklin Covey has a 52 week low of $15.20 and a 52 week high of $31.20. The stock has a market capitalization of $417.13, a price-to-earnings ratio of -73.17 and a beta of 0.82. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.50.

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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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Earnings History and Estimates for Franklin Covey (NYSE:FC)

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