Franklin Electric Co. (NASDAQ:FELE) – Research analysts at Boenning Scattergood raised their Q1 2019 earnings per share (EPS) estimates for shares of Franklin Electric in a note issued to investors on Tuesday, February 19th. Boenning Scattergood analyst R. Connors now expects that the industrial products company will earn $0.45 per share for the quarter, up from their previous forecast of $0.43. Boenning Scattergood has a “Buy” rating and a $54.00 price target on the stock. Boenning Scattergood also issued estimates for Franklin Electric’s Q2 2019 earnings at $0.75 EPS, Q4 2019 earnings at $0.56 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.73 EPS, Q4 2020 earnings at $0.58 EPS and FY2020 earnings at $2.55 EPS.
Several other analysts also recently weighed in on FELE. BidaskClub raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, ValuEngine raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.80.
Franklin Electric stock opened at $54.65 on Thursday. The company has a quick ratio of 1.00, a current ratio of 2.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.63 and a beta of 1.38. Franklin Electric has a twelve month low of $38.45 and a twelve month high of $55.27.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 19th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $316.66 million during the quarter, compared to the consensus estimate of $309.68 million. Franklin Electric had a net margin of 8.16% and a return on equity of 14.72%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, February 1st were paid a $0.145 dividend. The ex-dividend date of this dividend was Thursday, January 31st. This is an increase from Franklin Electric’s previous quarterly dividend of $0.12. This represents a $0.58 annualized dividend and a yield of 1.06%. Franklin Electric’s payout ratio is currently 25.66%.
Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new position in shares of Franklin Electric in the fourth quarter valued at about $307,000. Millennium Management LLC increased its position in shares of Franklin Electric by 241.0% in the fourth quarter. Millennium Management LLC now owns 81,377 shares of the industrial products company’s stock valued at $3,489,000 after acquiring an additional 57,511 shares during the period. Legal & General Group Plc increased its position in shares of Franklin Electric by 3.2% in the fourth quarter. Legal & General Group Plc now owns 95,645 shares of the industrial products company’s stock valued at $4,091,000 after acquiring an additional 2,955 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Franklin Electric by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 60,155 shares of the industrial products company’s stock valued at $2,579,000 after acquiring an additional 608 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Franklin Electric in the fourth quarter valued at about $481,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.
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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