William Blair Comments on Franklin Covey Co.’s FY2019 Earnings (FC)

Franklin Covey Co. (NYSE:FC) – Stock analysts at William Blair increased their FY2019 earnings per share (EPS) estimates for shares of Franklin Covey in a note issued to investors on Thursday, June 28th. William Blair analyst T. Mchugh now anticipates that the business services provider will post earnings of $0.20 per share for the year, up from their prior forecast of $0.13. William Blair also issued estimates for Franklin Covey’s Q4 2019 earnings at $0.50 EPS.

Franklin Covey (NYSE:FC) last issued its quarterly earnings results on Wednesday, June 27th. The business services provider reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. Franklin Covey had a negative net margin of 1.47% and a negative return on equity of 4.99%. The business had revenue of $50.46 million for the quarter, compared to analysts’ expectations of $49.78 million.

Other analysts have also issued research reports about the company. Barrington Research reissued a “buy” rating and set a $35.00 price objective on shares of Franklin Covey in a research note on Thursday. B. Riley reissued a “buy” rating on shares of Franklin Covey in a research note on Thursday, April 5th. Roth Capital increased their price objective on Franklin Covey from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, April 6th. ValuEngine raised Franklin Covey from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research lowered Franklin Covey from a “hold” rating to a “sell” rating in a research note on Friday, April 6th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.00.

Shares of NYSE FC opened at $24.55 on Monday. Franklin Covey has a one year low of $17.35 and a one year high of $31.20. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market cap of $340.21 million, a price-to-earnings ratio of -64.61 and a beta of 1.21.

A number of hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC lifted its stake in Franklin Covey by 8.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 27,010 shares of the business services provider’s stock worth $560,000 after acquiring an additional 1,991 shares during the period. BlackRock Inc. lifted its position in Franklin Covey by 0.4% during the fourth quarter. BlackRock Inc. now owns 785,012 shares of the business services provider’s stock valued at $16,288,000 after buying an additional 3,007 shares during the period. Wells Fargo & Company MN lifted its position in Franklin Covey by 34.3% during the fourth quarter. Wells Fargo & Company MN now owns 14,793 shares of the business services provider’s stock valued at $307,000 after buying an additional 3,782 shares during the period. MetLife Investment Advisors LLC purchased a new position in Franklin Covey during the first quarter valued at $132,000. Finally, California Public Employees Retirement System lifted its position in Franklin Covey by 36.3% during the fourth quarter. California Public Employees Retirement System now owns 26,890 shares of the business services provider’s stock valued at $558,000 after buying an additional 7,158 shares during the period. 48.09% of the stock is owned by institutional investors.

In related news, EVP Scott Jeffery Miller sold 1,343 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $25.69, for a total value of $34,501.67. Following the completion of the sale, the executive vice president now owns 9,130 shares of the company’s stock, valued at $234,549.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 33.50% of the company’s stock.

Franklin Covey Company Profile

Franklin Covey Co provides training and consulting services in the areas of leadership, productivity, strategic execution, trust, sales force performance, customer loyalty, and communication effectiveness skills worldwide. The company operates through four segments: Direct Offices, Strategic Markets, Education Practice, and International Licensees.

Earnings History and Estimates for Franklin Covey (NYSE:FC)

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