FY2024 EPS Forecast for Franklin Electric Reduced by Analyst

Franklin Electric Co., Inc. (NASDAQ:FELE) – Seaport Res Ptn lowered their FY2024 earnings estimates for Franklin Electric in a report issued on Tuesday, October 29th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $3.84 per share for the year, down from their previous estimate of $4.25. The consensus estimate for Franklin Electric’s current full-year earnings is $4.22 per share. Seaport Res Ptn also issued estimates for Franklin Electric’s Q1 2025 earnings at $0.77 EPS, Q2 2025 earnings at $1.36 EPS, Q3 2025 earnings at $1.29 EPS and FY2025 earnings at $4.30 EPS.

Separately, Robert W. Baird reduced their price target on shares of 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 Down 0.8 %

Shares of FELE opened at $95.71 on Thursday. The stock has a market capitalization of $4.37 billion, a PE ratio of 24.23, a P/E/G ratio of 2.02 and a beta of 0.95. Franklin Electric has a 1 year low of $84.32 and a 1 year high of $108.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. The company’s 50-day simple moving average is $101.83 and its 200-day simple moving average is $100.16.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.13). The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS.

Franklin Electric Dividend Announcement

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

Institutional Trading of Franklin Electric

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Franklin Electric by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after acquiring an additional 30,408 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Franklin Electric by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after purchasing an additional 40,248 shares during the last quarter. Earnest Partners LLC increased its stake in Franklin Electric by 2.6% in the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after purchasing an additional 39,478 shares during the last quarter. Boston Trust Walden Corp increased its stake in Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after purchasing an additional 3,847 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Franklin Electric by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock valued at $34,833,000 after purchasing an additional 21,890 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

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.