Franklin Electric (NASDAQ:FELE) Issues Earnings Results

Franklin Electric (NASDAQ:FELE) posted its earnings results on Tuesday. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.13), Briefing.com reports. The firm had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. Franklin Electric’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. Franklin Electric updated its FY24 guidance to $3.75-3.85 EPS and its FY 2024 guidance to 3.750-3.850 EPS.

Franklin Electric Stock Up 0.4 %

FELE opened at $96.50 on Thursday. The company has a market cap of $4.45 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. Franklin Electric has a 12 month low of $84.32 and a 12 month high of $108.39. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $101.83 and a 200 day moving average of $100.16.

Franklin Electric Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Franklin Electric’s dividend payout ratio is presently 24.88%.

Analysts Set New Price Targets

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

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.