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 lowered their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday.

Franklin Electric Stock Down 0.8 %

Shares of NASDAQ FELE traded down $0.79 during midday trading on Thursday, hitting $95.71. 250,094 shares of the stock traded hands, compared to its average volume of 175,097. The company has a market cap of $4.37 billion, a PE ratio of 24.44, a P/E/G ratio of 2.02 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. Franklin Electric has a one year low of $84.32 and a one year high of $108.39. The business has a 50 day moving average price of $101.83 and a two-hundred day moving average price of $100.16.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). The business had revenue of $531.40 million during 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 revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. On average, equities analysts predict 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 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 (DPR) is currently 25.32%.

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.