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

Brokerages forecast that Franklin Electric Co. (NASDAQ:FELE) will report sales of $312.52 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Franklin Electric’s earnings. The lowest sales estimate is $300.73 million and the highest is $324.30 million. Franklin Electric reported sales of $239.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 30.4%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, February 20th.

According to Zacks, 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 financial year, analysts expect that the business will report 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 an average based on a survey of research firms that follow Franklin Electric.

Several analysts have issued reports on the stock. BidaskClub upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Boenning Scattergood restated a “buy” rating on shares of Franklin Electric in a research report on Tuesday, October 24th. Robert W. Baird raised their price target on shares of Franklin Electric from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.00.

Institutional investors have recently modified their holdings of the company. Channing Capital Management LLC acquired a new stake in shares of Franklin Electric during the 3rd quarter valued at about $30,888,000. New York State Common Retirement Fund boosted its position in shares of Franklin Electric by 3.6% during the 3rd quarter. New York State Common Retirement Fund now owns 741,583 shares of the industrial products company’s stock valued at $33,260,000 after acquiring an additional 25,450 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Franklin Electric by 49.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,280 shares of the industrial products company’s stock valued at $730,000 after acquiring an additional 5,380 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Franklin Electric by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,166 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 4,498 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Franklin Electric by 3.4% during the 2nd quarter. California Public Employees Retirement System now owns 117,900 shares of the industrial products company’s stock valued at $4,881,000 after acquiring an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.

Shares of Franklin Electric (FELE) opened at $42.80 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1,940.75, a price-to-earnings ratio of 23.01 and a beta of 1.53. Franklin Electric has a 12-month low of $36.00 and a 12-month high of $47.20.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.108 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.43 annualized dividend and a dividend yield of 1.01%. Franklin Electric’s dividend payout ratio (DPR) is currently 23.12%.

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

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