Franklin Electric (NASDAQ:FELE) Releases FY 2024 Earnings Guidance

Franklin Electric (NASDAQ:FELE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.750-3.850 for the period, compared to the consensus estimate of 4.200. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.1 billion. Franklin Electric also updated its FY24 guidance to $3.75-3.85 EPS.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Franklin Electric Stock Performance

FELE traded down $0.79 during mid-day trading on Thursday, reaching $95.71. 250,094 shares of the company traded hands, compared to its average volume of 175,097. The stock has a market capitalization of $4.37 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.02 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $101.83 and its 200-day moving average price is $100.16. Franklin Electric has a 52-week low of $84.32 and a 52-week high of $108.39.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). The company had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. On average, sell-side analysts expect that Franklin Electric will post 4.22 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.