Equities analysts predict that Franklin Electric (NASDAQ:FELE) will post $0.70 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Franklin Electric’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.72. Franklin Electric posted earnings per share of $0.58 in the same quarter last year, which would suggest a positive year over year growth rate of 20.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 24th.
On average, analysts expect that Franklin Electric will report full-year earnings of $2.30 per share for the current year, with EPS estimates ranging from $2.28 to $2.33. For the next year, analysts forecast that the business will report earnings of $2.50 per share, with EPS estimates ranging from $2.48 to $2.52. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Franklin Electric.
Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, May 1st. The industrial products company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Franklin Electric had a return on equity of 13.33% and a net margin of 6.97%. The company had revenue of $295.60 million during the quarter, compared to the consensus estimate of $290.73 million. During the same period in the previous year, the company posted $0.33 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year.
FELE has been the subject of several recent research reports. DA Davidson initiated coverage on Franklin Electric in a research note on Monday, June 11th. They issued a “neutral” rating and a $50.00 price target for the company. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Friday, June 1st. Finally, BidaskClub upgraded Franklin Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $48.80.
Shares of NASDAQ FELE opened at $45.15 on Friday. The company has a quick ratio of 1.03, a current ratio of 2.22 and a debt-to-equity ratio of 0.17. Franklin Electric has a 12 month low of $37.60 and a 12 month high of $48.80. The company has a market cap of $2.10 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.30 and a beta of 1.57.
In other Franklin Electric news, insider Delancey W. Davis sold 1,117 shares of Franklin Electric stock in a transaction on Friday, May 4th. The stock was sold at an average price of $43.79, for a total value of $48,913.43. Following the completion of the transaction, the insider now directly owns 17,331 shares of the company’s stock, valued at approximately $758,924.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven William Aikman sold 3,000 shares of Franklin Electric stock in a transaction on Friday, May 18th. The shares were sold at an average price of $46.02, for a total value of $138,060.00. The disclosure for this sale can be found here. Insiders sold a total of 6,056 shares of company stock valued at $274,952 over the last 90 days. 2.54% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB raised its holdings in Franklin Electric by 61.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 2,800 shares in the last quarter. Legal & General Group Plc raised its holdings in Franklin Electric by 1.5% in the 1st quarter. Legal & General Group Plc now owns 82,480 shares of the industrial products company’s stock valued at $3,335,000 after acquiring an additional 1,238 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Franklin Electric by 2.7% in the 1st quarter. Guggenheim Capital LLC now owns 128,066 shares of the industrial products company’s stock valued at $5,219,000 after acquiring an additional 3,338 shares in the last quarter. Barclays PLC raised its holdings in Franklin Electric by 83.5% in the 1st quarter. Barclays PLC now owns 13,489 shares of the industrial products company’s stock valued at $550,000 after acquiring an additional 6,140 shares in the last quarter. Finally, Crawford Investment Counsel Inc. raised its holdings in Franklin Electric by 42.5% in the 1st quarter. Crawford Investment Counsel Inc. now owns 61,400 shares of the industrial products company’s stock valued at $2,502,000 after acquiring an additional 18,300 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.