Zacks: Analysts Anticipate Franklin Electric Co. (NASDAQ:FELE) Will Post Earnings of $0.64 Per Share

Wall Street brokerages forecast that Franklin Electric Co. (NASDAQ:FELE) will report earnings per share (EPS) of $0.64 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Franklin Electric’s earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.65. Franklin Electric reported earnings of $0.73 per share during the same quarter last year, which would suggest a negative year over year growth rate of 12.3%. The firm is scheduled to issue its next earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Franklin Electric will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.82 to $1.90. For the next financial year, analysts expect that the business will report earnings of $2.20 per share, with EPS estimates ranging from $2.10 to $2.31. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Franklin Electric.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.09. Franklin Electric had a return on equity of 11.70% and a net margin of 7.16%. The firm had revenue of $308.28 million for the quarter, compared to the consensus estimate of $298.26 million. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was down 13.2% compared to the same quarter last year.

A number of research firms have commented on FELE. BidaskClub upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research report on Tuesday. DA Davidson cut Franklin Electric from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Thursday, July 2nd. Sidoti assumed coverage on Franklin Electric in a research note on Wednesday, July 1st. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised Franklin Electric from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a research note on Wednesday, September 2nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Franklin Electric has an average rating of “Buy” and an average target price of $59.50.

NASDAQ:FELE traded up $0.15 on Friday, reaching $56.78. The company’s stock had a trading volume of 114,359 shares, compared to its average volume of 198,116. Franklin Electric has a 12-month low of $41.25 and a 12-month high of $61.49. The company has a quick ratio of 1.44, a current ratio of 3.16 and a debt-to-equity ratio of 0.12. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 30.04 and a beta of 1.13. The stock has a 50 day moving average price of $59.45 and a 200 day moving average price of $52.39.

In other news, VP Donald P. Kenney sold 474 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $56.50, for a total value of $26,781.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Julie Scheck Freigang sold 11,145 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $59.69, for a total value of $665,245.05. Following the completion of the sale, the vice president now directly owns 11,652 shares of the company’s stock, valued at $695,507.88. The disclosure for this sale can be found here. Insiders sold a total of 22,521 shares of company stock valued at $1,309,107 over the last three months. Company insiders own 2.79% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in Franklin Electric by 99.4% during the 1st quarter. State Street Corp now owns 2,494,110 shares of the industrial products company’s stock valued at $117,547,000 after acquiring an additional 1,243,301 shares during the last quarter. King Luther Capital Management Corp raised its stake in Franklin Electric by 0.7% during the 2nd quarter. King Luther Capital Management Corp now owns 1,229,739 shares of the industrial products company’s stock valued at $64,586,000 after acquiring an additional 8,223 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Franklin Electric by 5.1% during the 1st quarter. Geode Capital Management LLC now owns 614,334 shares of the industrial products company’s stock worth $28,952,000 after buying an additional 29,686 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Franklin Electric by 9.1% during the 2nd quarter. Boston Trust Walden Corp now owns 517,074 shares of the industrial products company’s stock worth $27,156,000 after buying an additional 43,290 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Franklin Electric by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 508,014 shares of the industrial products company’s stock worth $26,680,000 after buying an additional 1,831 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

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.

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

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