Franklin Electric (NASDAQ:FELE) Posts Earnings Results, Misses Expectations By $0.13 EPS

Franklin Electric (NASDAQ:FELE) announced its earnings results on Tuesday. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.13), Briefing.com reports. The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. 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 Performance

NASDAQ FELE traded up $1.38 on Wednesday, hitting $97.47. 31,595 shares of the company’s stock were exchanged, compared to its average volume of 174,054. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 23.90, 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 current ratio of 2.65 and a quick ratio of 1.14. The firm’s 50-day moving average price is $101.92 and its two-hundred day moving average price is $100.19. Franklin Electric has a fifty-two week low of $84.32 and a fifty-two week high of $108.39.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 24.88%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered 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.

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.