Franklin Covey Company (NYSE:FC) – Research analysts at B. Riley lowered their FY2019 earnings per share (EPS) estimates for shares of Franklin Covey in a note issued to investors on Friday. B. Riley analyst K. Liu now expects that the business services provider will earn $0.04 per share for the year, down from their previous forecast of $0.08. B. Riley has a “Buy” rating and a $22.00 price target on the stock. B. Riley also issued estimates for Franklin Covey’s Q4 2019 earnings at $0.45 EPS.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Franklin Covey from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub lowered shares of Franklin Covey from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.
Franklin Covey (NYSE:FC) last posted its earnings results on Thursday, November 9th. The business services provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.06). Franklin Covey had a negative return on equity of 5.47% and a negative net margin of 3.87%. The business had revenue of $59.50 million during the quarter, compared to analyst estimates of $64.60 million. During the same quarter in the prior year, the company earned $0.55 EPS. The company’s revenue was down 8.2% on a year-over-year basis.
In related news, Director Joel Clinton Peterson sold 1,792 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $20.33, for a total value of $36,431.36. Following the completion of the transaction, the director now directly owns 225,280 shares of the company’s stock, valued at approximately $4,579,942.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 5,377 shares of company stock valued at $104,045. 33.50% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its holdings in Franklin Covey by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,208 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 342 shares during the period. American International Group Inc. boosted its holdings in Franklin Covey by 7.3% in the 1st quarter. American International Group Inc. now owns 6,300 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 427 shares during the period. Bank of New York Mellon Corp boosted its holdings in Franklin Covey by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 79,236 shares of the business services provider’s stock valued at $1,529,000 after purchasing an additional 646 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Franklin Covey by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,948 shares of the business services provider’s stock valued at $172,000 after purchasing an additional 740 shares during the period. Finally, Modera Wealth Management LLC boosted its holdings in Franklin Covey by 5.9% in the 2nd quarter. Modera Wealth Management LLC now owns 27,281 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 1,519 shares during the period. 52.06% of the stock is owned by hedge funds and other institutional investors.
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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