Brokerages expect Franklin Electric Co. (NASDAQ:FELE) to announce sales of $356.59 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Franklin Electric’s earnings, with the lowest sales estimate coming in at $355.00 million and the highest estimate coming in at $358.06 million. Franklin Electric posted sales of $343.97 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, July 23rd.
According to Zacks, analysts expect that Franklin Electric will report full-year sales of $1.34 billion for the current financial year, with estimates ranging from $1.33 billion to $1.34 billion. For the next fiscal year, analysts expect that the business will report sales of $1.40 billion, with estimates ranging from $1.39 billion to $1.41 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Franklin Electric.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). Franklin Electric had a return on equity of 13.11% and a net margin of 7.25%. The business had revenue of $290.70 million for the quarter, compared to analysts’ expectations of $304.61 million. During the same period in the prior year, the business posted $0.45 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year.
Shares of Franklin Electric stock traded up $0.11 during trading hours on Tuesday, hitting $45.61. 175,436 shares of the company were exchanged, compared to its average volume of 163,837. Franklin Electric has a 1 year low of $38.87 and a 1 year high of $55.59. The company has a quick ratio of 0.95, a current ratio of 2.13 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $45.77. The firm has a market capitalization of $2.11 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 3.95 and a beta of 1.33.
In other Franklin Electric news, VP Donald P. Kenney sold 1,313 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $46.21, for a total value of $60,673.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.88% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its holdings in shares of Franklin Electric by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,026 shares of the industrial products company’s stock worth $768,000 after purchasing an additional 271 shares during the period. Mason Street Advisors LLC raised its position in shares of Franklin Electric by 2.4% during the first quarter. Mason Street Advisors LLC now owns 12,335 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 286 shares during the period. Piedmont Investment Advisors Inc. raised its position in shares of Franklin Electric by 6.2% during the first quarter. Piedmont Investment Advisors Inc. now owns 9,949 shares of the industrial products company’s stock worth $508,000 after purchasing an additional 583 shares during the period. Advisor Group Inc. raised its position in shares of Franklin Electric by 10.7% during the fourth quarter. Advisor Group Inc. now owns 6,034 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 585 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Franklin Electric by 1.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 60,155 shares of the industrial products company’s stock worth $2,579,000 after purchasing an additional 608 shares during the period. 77.30% of the stock is currently owned by institutional investors.
About Franklin Electric
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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