Franklin Electric Co., Inc. (NASDAQ:FELE) – Investment analysts at Boenning Scattergood lowered their FY2017 EPS estimates for shares of Franklin Electric Co. in a research note issued on Tuesday, Zacks Investment Research reports. Boenning Scattergood analyst R. Connors now expects that the industrial products company will earn $1.86 per share for the year, down from their previous forecast of $1.89. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Franklin Electric Co.’s Q4 2017 earnings at $0.43 EPS and Q2 2018 earnings at $0.62 EPS.
Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $311.11 million for the quarter, compared to analysts’ expectations of $317.54 million. Franklin Electric Co. had a net margin of 8.13% and a return on equity of 13.09%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for Franklin Electric Co., Inc. (NASDAQ:FELE) Cut by Analyst” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/11/11/fy2017-earnings-forecast-for-franklin-electric-co-inc-issued-by-boenning-scattergood-fele.html.
FELE has been the subject of several other reports. BidaskClub cut shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Franklin Electric Co. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, September 27th. Robert W. Baird reissued a “hold” rating and issued a $45.00 price target on shares of Franklin Electric Co. in a research report on Wednesday, October 4th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric Co. in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.33.
Franklin Electric Co. (NASDAQ FELE) traded up $0.05 during mid-day trading on Thursday, hitting $44.00. 162,900 shares of the company were exchanged, compared to its average volume of 155,872. The firm has a market cap of $2,047.92, a PE ratio of 24.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.35. Franklin Electric Co. has a 1-year low of $36.00 and a 1-year high of $46.95.
A number of large investors have recently made changes to their positions in FELE. Public Employees Retirement System of Ohio raised its holdings in Franklin Electric Co. by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 281 shares during the last quarter. Fifth Third Bancorp lifted its stake in Franklin Electric Co. by 8.0% in the 1st quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 196 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Franklin Electric Co. by 13.5% during the 1st quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 347 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Franklin Electric Co. by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 116 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Franklin Electric Co. during the 3rd quarter worth approximately $131,000. 79.37% of the stock is owned by hedge funds and other institutional investors.
In other Franklin Electric Co. news, VP Donald P. Kenney sold 4,754 shares of Franklin Electric Co. stock in a transaction on Friday, October 27th. The stock was sold at an average price of $45.00, for a total transaction of $213,930.00. Following the completion of the transaction, the vice president now directly owns 19,129 shares of the company’s stock, valued at $860,805. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.54% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be issued a dividend of $0.1075 per share. The ex-dividend date is Wednesday, November 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.98%. Franklin Electric Co.’s payout ratio is presently 23.12%.
About Franklin Electric Co.
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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