Seaport Global Securities Comments on Franklin Electric Co.’s FY2018 Earnings (FELE)

Franklin Electric Co. (NASDAQ:FELE) – Stock analysts at Seaport Global Securities dropped their FY2018 earnings per share estimates for Franklin Electric in a research report issued to clients and investors on Monday, October 29th, according to Zacks Investment Research. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings per share of $2.23 for the year, down from their prior forecast of $2.30. Seaport Global Securities also issued estimates for Franklin Electric’s Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.41 EPS.

Several other equities analysts have also issued reports on FELE. BidaskClub lowered Franklin Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, ValuEngine lowered Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $48.80.

FELE stock traded up $0.45 during midday trading on Wednesday, reaching $43.57. The stock had a trading volume of 73,123 shares, compared to its average volume of 119,597. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.27 and a beta of 1.60. Franklin Electric has a twelve month low of $38.45 and a twelve month high of $51.45. The company has a quick ratio of 1.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.13.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). The firm had revenue of $341.87 million during the quarter, compared to analyst estimates of $342.18 million. Franklin Electric had a return on equity of 14.22% and a net margin of 7.07%. Franklin Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. Franklin Electric’s payout ratio is currently 25.00%.

In other news, VP Steven William Aikman sold 1,500 shares of Franklin Electric stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $50.21, for a total transaction of $75,315.00. Following the transaction, the vice president now owns 16,515 shares in the company, valued at approximately $829,218.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John J. Haines sold 2,000 shares of Franklin Electric stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $45.25, for a total value of $90,500.00. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC bought a new stake in Franklin Electric in the 3rd quarter valued at approximately $287,000. Xact Kapitalforvaltning AB lifted its stake in Franklin Electric by 61.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 2,800 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Franklin Electric in the 2nd quarter valued at approximately $345,000. Cim Investment Mangement Inc. bought a new stake in Franklin Electric in the 2nd quarter valued at approximately $357,000. Finally, Sei Investments Co. lifted its stake in Franklin Electric by 99.1% in the 1st quarter. Sei Investments Co. now owns 8,005 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 3,984 shares in the last quarter. Hedge funds and other institutional investors own 77.64% 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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