Barrington Research Weighs in on Franklin Covey Co.’s Q4 2018 Earnings (FC)
Franklin Covey Co. (NYSE:FC) – Equities research analysts at Barrington Research dropped their Q4 2018 earnings per share (EPS) estimates for shares of Franklin Covey in a research note issued on Tuesday. Barrington Research analyst A. Paris. Jr now expects that the business services provider will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.56. Barrington Research currently has a “Outperform” rating on the stock.
Several other brokerages also recently issued reports on FC. Zacks Investment Research raised shares of Franklin Covey from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley reissued a “buy” rating and set a $21.00 price objective on shares of Franklin Covey in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.00.
Franklin Covey (NYSE:FC) last released its quarterly earnings data on Thursday, January 4th. The business services provider reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.16. Franklin Covey had a negative net margin of 2.90% and a negative return on equity of 3.75%. The firm had revenue of $47.90 million for the quarter, compared to the consensus estimate of $43.47 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of FC. Schwab Charles Investment Management Inc. increased its position in shares of Franklin Covey by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 48,208 shares of the business services provider’s stock worth $931,000 after acquiring an additional 342 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Franklin Covey by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 79,236 shares of the business services provider’s stock worth $1,529,000 after acquiring an additional 646 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Franklin Covey by 13.0% in the second quarter. Teachers Advisors LLC now owns 19,159 shares of the business services provider’s stock worth $370,000 after acquiring an additional 2,211 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Franklin Covey by 18.1% in the second quarter. New York State Common Retirement Fund now owns 21,181 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 3,250 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Franklin Covey by 2.7% in the second quarter. Northern Trust Corp now owns 137,853 shares of the business services provider’s stock valued at $2,661,000 after purchasing an additional 3,688 shares during the period. 49.68% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Joel Clinton Peterson sold 1,793 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $19.13, for a total transaction of $34,300.09. Following the completion of the transaction, the director now owns 223,487 shares of the company’s stock, valued at $4,275,306.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 33.40% of the company’s stock.
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About Franklin Covey
Franklin Covey Co is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group.
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