Franklin Electric Co. (FELE) Expected to Post Quarterly Sales of $340.50 Million

Wall Street brokerages predict that Franklin Electric Co. (NASDAQ:FELE) will post sales of $340.50 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Franklin Electric’s earnings. The highest sales estimate is $352.80 million and the lowest is $326.70 million. Franklin Electric reported sales of $311.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The firm is expected to report its next earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Franklin Electric will report full year sales of $1.30 billion for the current financial year, with estimates ranging from $1.27 billion to $1.32 billion. For the next year, analysts anticipate that the firm will report sales of $1.36 billion, with estimates ranging from $1.32 billion to $1.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Franklin Electric.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.05). Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The firm had revenue of $344.00 million during the quarter, compared to the consensus estimate of $348.65 million. During the same quarter in the previous year, the company earned $0.58 EPS. The business’s revenue was up 12.7% compared to the same quarter last year.

Several equities analysts recently weighed in on FELE shares. Zacks Investment Research lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, May 30th. DA Davidson started coverage on shares of Franklin Electric in a research report on Monday, June 11th. They set a “neutral” rating and a $50.00 price target for the company. BidaskClub lowered shares of Franklin Electric from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Finally, ValuEngine upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Franklin Electric has an average rating of “Hold” and a consensus target price of $48.80.

NASDAQ FELE opened at $47.55 on Wednesday. Franklin Electric has a 1 year low of $38.45 and a 1 year high of $51.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.06 and a quick ratio of 1.00. The firm has a market capitalization of $2.20 billion, a PE ratio of 22.98, a PEG ratio of 2.44 and a beta of 1.58.

In related news, VP Steven William Aikman sold 1,500 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $50.21, for a total transaction of $75,315.00. Following the completion of the transaction, the vice president now owns 16,515 shares in the company, valued at $829,218.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 6,500 shares of company stock valued at $323,430. 2.52% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Northern Trust Corp boosted its position in Franklin Electric by 1.9% during the second quarter. Northern Trust Corp now owns 594,544 shares of the industrial products company’s stock worth $26,814,000 after purchasing an additional 11,332 shares during the period. Bank of New York Mellon Corp boosted its position in Franklin Electric by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 688,152 shares of the industrial products company’s stock worth $31,036,000 after purchasing an additional 20,518 shares during the period. Bank of America Corp DE boosted its position in Franklin Electric by 1.5% during the second quarter. Bank of America Corp DE now owns 280,503 shares of the industrial products company’s stock worth $12,651,000 after purchasing an additional 4,096 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Franklin Electric during the second quarter worth about $345,000. Finally, Earnest Partners LLC boosted its position in Franklin Electric by 0.3% during the second quarter. Earnest Partners LLC now owns 2,137,877 shares of the industrial products company’s stock worth $96,418,000 after purchasing an additional 6,258 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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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