Franklin Electric Co. (FELE) Releases Earnings Results, Misses Expectations By $-0.02 EPS

Franklin Electric Co. (FELE) reported quarterly earnings results on Monday, May-2-2016. The company reported $0.29 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $0.31. The company posted revenue of $218.40 million in the period, compared to analysts expectations of $217.21 million. The company’s revenue was down -3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Franklin Electric Co.. Shares were Reiterated by Wedbush on Feb 24, 2016 to “Neutral” and Lowered the Price Target to $ 33 from a previous price target of $34 .

Franklin Electric Co. closed down -0.22 points or -0.67% at $32.44 with 94,617 shares getting traded on Wednesday. Post opening the session at $32.65, the shares hit an intraday low of $32.12 and an intraday high of $32.76 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 17, 2016, Delancey W Davis (Vice President) sold 1,236 shares at $31.05 per share price. According to the SEC, on Mar 17, 2016, John J Haines (Vice President and CFO) sold 2,500 shares at $31.02 per share price. On Mar 15, 2016, Thomas J Strupp (Vice President) sold 695 shares at $30.98 per share price, according to the Form-4 filing with the securities and exchange commission.

Franklin Electric Co Inc. together with its subsidiaries is engaged in designing manufacturing and distributing water and fuel pumping systems composed of submersible motors pumps electronic controls and related parts and equipment. The Company’s business consists of two segments: the Water Systems segment and the Fueling Systems segment. The Company’s Water Systems produces and markets water pumping systems and is also engaged in submersible motors pumps drives electronic controls and monitoring devices. The Company’s Fueling Systems is engaged in the production and marketing of fuel pumping systems fuel containment systems and monitoring and control systems. The Company’s Water Systems and Fueling Systems products and related equipment are sold to specialty distributors and some original equipment manufacturers as well as industrial and petroleum equipment distributors and oil and utility companies.

Franklin Electric Co.

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