Franklin Electric (NASDAQ:FELE – Get Free Report) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04), Briefing.com reports. The company had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. Franklin Electric updated its FY24 guidance to $4.22-4.40 EPS and its FY 2024 guidance to 4.220-4.400 EPS.
Franklin Electric Stock Up 1.9 %
Franklin Electric stock traded up $1.84 during midday trading on Wednesday, hitting $97.86. 67,859 shares of the company’s stock were exchanged, compared to its average volume of 183,145. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.97. Franklin Electric has a 12 month low of $82.61 and a 12 month high of $107.89. The firm has a 50-day moving average of $102.35 and a two-hundred day moving average of $95.87. The company has a market cap of $4.50 billion, a PE ratio of 23.81, a P/E/G ratio of 1.99 and a beta of 0.96.
Franklin Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, May 1st. Franklin Electric’s payout ratio is 24.33%.
Analyst Ratings Changes
Get Our Latest Research Report on Franklin Electric
Insiders Place Their Bets
In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the transaction, the chief executive officer now directly owns 154,993 shares in the company, valued at approximately $15,493,100.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.72% of the stock is owned by company insiders.
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.
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