FY2024 EPS Forecast for Franklin Electric Lowered by Analyst

Franklin Electric Co., Inc. (NASDAQ:FELE) – Research analysts at DA Davidson lowered their FY2024 earnings per share estimates for shares of Franklin Electric in a note issued to investors on Monday, November 4th. DA Davidson analyst M. Summerville now expects that the industrial products company will earn $3.80 per share for the year, down from their previous estimate of $4.20. The consensus estimate for Franklin Electric’s current full-year earnings is $3.82 per share. DA Davidson also issued estimates for Franklin Electric’s Q4 2024 earnings at $0.67 EPS.

Franklin Electric (NASDAQ:FELE) last issued its 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 $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. During the same quarter in the previous year, the company earned $1.23 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis.

Separately, Robert W. Baird reduced their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Price Performance

NASDAQ FELE opened at $110.03 on Tuesday. The company has a market cap of $5.03 billion, a PE ratio of 27.86, a P/E/G ratio of 2.13 and a beta of 0.96. Franklin Electric has a 52-week low of $85.82 and a 52-week high of $110.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The firm’s 50 day moving average price is $101.69 and its 200-day moving average price is $100.16.

Institutional Investors Weigh In On Franklin Electric

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in Franklin Electric in the first quarter valued at approximately $968,000. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 30,408 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Franklin Electric by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock worth $5,197,000 after purchasing an additional 5,311 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Franklin Electric by 357.6% during the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock worth $889,000 after purchasing an additional 7,213 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.72% of the company’s stock.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.91%. Franklin Electric’s dividend payout ratio (DPR) is 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.