Zacks: Analysts Expect Franklin Electric Co. (NASDAQ:FELE) Will Announce Earnings of $0.53 Per Share

Equities analysts predict that Franklin Electric Co. (NASDAQ:FELE) will report $0.53 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Franklin Electric’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.58. Franklin Electric posted earnings of $0.52 per share during the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The firm is scheduled to report its next earnings report on Tuesday, February 18th.

On average, analysts expect that Franklin Electric will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.20. For the next financial year, analysts forecast that the company will post earnings of $2.40 per share, with EPS estimates ranging from $2.38 to $2.40. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Franklin Electric.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Franklin Electric had a return on equity of 13.46% and a net margin of 7.62%. The business had revenue of $348.41 million during the quarter, compared to analyst estimates of $353.82 million. During the same quarter last year, the company posted $0.64 EPS. Franklin Electric’s revenue for the quarter was up 1.9% on a year-over-year basis.

Several equities research analysts have recently issued reports on the company. BidaskClub upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Franklin Electric in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.00.

Shares of NASDAQ:FELE traded up $0.15 during midday trading on Tuesday, reaching $54.46. The company had a trading volume of 78,200 shares, compared to its average volume of 146,843. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 24.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 2.40. Franklin Electric has a 1-year low of $39.92 and a 1-year high of $55.63. The company has a fifty day simple moving average of $49.25 and a two-hundred day simple moving average of $46.97.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, October 31st. Franklin Electric’s payout ratio is 25.66%.

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In related news, VP Steven William Aikman sold 4,608 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $54.51, for a total value of $251,182.08. Following the transaction, the vice president now directly owns 19,406 shares of the company’s stock, valued at approximately $1,057,821.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregg C. Sengstack sold 8,008 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $54.37, for a total value of $435,394.96. The disclosure for this sale can be found here. Insiders sold a total of 20,699 shares of company stock worth $1,090,336 over the last three months. 2.88% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. increased its position in Franklin Electric by 16.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 874,355 shares of the industrial products company’s stock worth $41,803,000 after buying an additional 120,460 shares during the period. Mason Street Advisors LLC increased its position in Franklin Electric by 1.6% in the 3rd quarter. Mason Street Advisors LLC now owns 13,059 shares of the industrial products company’s stock worth $624,000 after buying an additional 202 shares during the period. SG Americas Securities LLC increased its position in Franklin Electric by 472.6% in the 3rd quarter. SG Americas Securities LLC now owns 64,806 shares of the industrial products company’s stock worth $3,098,000 after buying an additional 53,489 shares during the period. Russell Investments Group Ltd. increased its position in Franklin Electric by 15.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,669 shares of the industrial products company’s stock worth $1,371,000 after buying an additional 3,869 shares during the period. Finally, California Public Employees Retirement System increased its position in Franklin Electric by 22.5% in the 3rd quarter. California Public Employees Retirement System now owns 100,550 shares of the industrial products company’s stock worth $4,807,000 after buying an additional 18,501 shares during the period. 77.09% of the stock is currently 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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