Seaport Global Securities Analysts Raise Earnings Estimates for Franklin Electric (FELE)

Franklin Electric (NASDAQ:FELE) – Equities researchers at Seaport Global Securities boosted their Q4 2019 earnings per share (EPS) estimates for shares of Franklin Electric in a report released on Wednesday, June 13th. Seaport Global Securities analyst W. Liptak now anticipates that the industrial products company will post earnings of $0.57 per share for the quarter, up from their previous forecast of $0.56. Seaport Global Securities currently has a “Hold” rating and a $41.00 price target on the stock.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. The business had revenue of $295.60 million during the quarter, compared to analysts’ expectations of $290.73 million. Franklin Electric had a net margin of 6.97% and a return on equity of 13.33%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share.



FELE has been the subject of a number of other reports. BidaskClub cut shares of Franklin Electric from a “sell” rating to a “strong sell” rating in a report on Friday, March 2nd. Zacks Investment Research upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, February 21st. Robert W. Baird restated a “hold” rating and set a $47.00 target price on shares of Franklin Electric in a report on Friday, February 23rd. Finally, Gabelli restated a “hold” rating on shares of Franklin Electric in a report on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.80.

Shares of NASDAQ:FELE opened at $46.95 on Monday. The company has a market cap of $2.17 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.39 and a beta of 1.57. Franklin Electric has a 1-year low of $37.60 and a 1-year high of $48.80. The company has a quick ratio of 1.03, a current ratio of 2.22 and a debt-to-equity ratio of 0.17.

In related news, VP Steven William Aikman sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $46.02, for a total value of $138,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Delancey W. Davis sold 1,117 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $43.79, for a total transaction of $48,913.43. Following the completion of the transaction, the insider now directly owns 17,331 shares of the company’s stock, valued at approximately $758,924.49. The disclosure for this sale can be found here. Insiders have sold 6,056 shares of company stock valued at $274,952 over the last 90 days. 2.52% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC boosted its stake in Franklin Electric by 29.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 1,204 shares during the period. Legal & General Group Plc boosted its stake in Franklin Electric by 1.5% in the 1st quarter. Legal & General Group Plc now owns 82,480 shares of the industrial products company’s stock worth $3,335,000 after purchasing an additional 1,238 shares during the period. Citigroup Inc. boosted its stake in Franklin Electric by 11.2% in the 1st quarter. Citigroup Inc. now owns 12,370 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 1,250 shares during the period. Profund Advisors LLC boosted its stake in Franklin Electric by 20.6% in the 1st quarter. Profund Advisors LLC now owns 7,376 shares of the industrial products company’s stock worth $301,000 after purchasing an additional 1,260 shares during the period. Finally, Rhumbline Advisers boosted its stake in Franklin Electric by 1.4% in the 1st quarter. Rhumbline Advisers now owns 108,734 shares of the industrial products company’s stock worth $4,431,000 after purchasing an additional 1,495 shares during the period. 76.83% of the stock is owned by hedge funds and other institutional investors.

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.

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

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