Franklin Electric (NASDAQ:FELE) Issues 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 4.160-4.340 for the period, compared to the consensus estimate of 4.280. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Franklin Electric also updated its FY24 guidance to $4.16-4.34 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of Franklin Electric from $87.00 to $90.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. StockNews.com lowered Franklin Electric from a strong-buy rating to a buy rating in a report on Thursday, May 9th.

Franklin Electric Price Performance

Shares of NASDAQ FELE traded down $4.15 during midday trading on Tuesday, reaching $100.14. The company’s stock had a trading volume of 33,756 shares, compared to its average volume of 176,128. The company has a market cap of $4.61 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.00 and a beta of 0.96. Franklin Electric has a fifty-two week low of $82.61 and a fifty-two week high of $107.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.17 and a current ratio of 2.85. The business’s 50 day moving average price is $98.03 and its two-hundred day moving average price is $99.22.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The company had revenue of $460.90 million for the quarter, compared to the consensus estimate of $477.64 million. Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, analysts forecast that Franklin Electric will post 4.27 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is presently 24.88%.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Jonathan M. Grandon sold 1,391 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $98.00, for a total value of $136,318.00. Following the sale, the insider now owns 18,103 shares of the company’s stock, valued at approximately $1,774,094. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Delancey W. Davis sold 2,214 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.06, for a total value of $225,960.84. Following the completion of the transaction, the insider now owns 8,014 shares of the company’s stock, valued at $817,908.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total transaction of $136,318.00. Following the sale, the insider now directly owns 18,103 shares in the company, valued at $1,774,094. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by insiders.

Franklin Electric Company Profile

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.