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

Franklin Electric Co. (FELE) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.51 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.49. The company posted revenue of $252.08 million in the period, compared to analysts expectations of $255.59 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Franklin Electric Co.. Boenning & Scattergood Upgraded Franklin Electric Co. on Jul 11, 2016 to ” Outperform”, Price Target of the shares are set at $40.Seaport Global Securities Downgraded Franklin Electric Co. on Jun 10, 2016 to ” Neutral”, Price Target of the shares are set at $36.

Franklin Electric Co. opened for trading at $37.6 and hit $37.8 on the upside on Wednesday, eventually ending the session at $37.48, with a gain of 0.08% or 0.03 points. The heightened volatility saw the trading volume jump to 83,982 shares. Company has a market cap of $1,730 M.

In a different news, on Jun 8, 2016, Donald P Kenney (VP & President Energy Systems) sold 1,100 shares at $34.24 per share price. According to the SEC, on Jun 6, 2016, John J Haines (Vice President and CFO) sold 4,546 shares at $34.00 per share price. On May 10, 2016, Delancey W Davis (Vice President) sold 2,971 shares at $32.40 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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