Franklin Electric (NASDAQ:FELE – Get Free Report) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06), Briefing.com reports. The company had revenue of $543.30 million during the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. Franklin Electric’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. Franklin Electric updated its FY24 guidance to $4.16-4.34 EPS and its FY 2024 guidance to 4.160-4.340 EPS.
Franklin Electric Stock Up 2.4 %
Shares of NASDAQ FELE traded up $2.46 during midday trading on Friday, hitting $106.21. 93,754 shares of the company’s stock were exchanged, compared to its average volume of 178,835. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.17. Franklin Electric has a twelve month low of $82.61 and a twelve month high of $107.89. The company has a market cap of $4.89 billion, a PE ratio of 25.81, a P/E/G ratio of 1.97 and a beta of 0.96. The firm’s fifty day simple moving average is $98.05 and its 200-day simple moving average is $99.31.
Franklin Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is presently 24.88%.
Insider Transactions at Franklin Electric
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on FELE shares. DA Davidson increased their price target on Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th.
View Our Latest Research Report on FELE
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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