Franklin Electric (FELE) to Release Earnings on Tuesday

Franklin Electric (NASDAQ:FELE) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Franklin Electric to post earnings of $0.75 per share for the quarter. Franklin Electric has set its FY24 guidance at $4.22-4.40 EPS and its FY 2024 guidance at 4.220-4.400 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The business had revenue of $472.97 million during the quarter, compared to analysts’ expectations of $490.47 million. During the same quarter in the previous year, the business earned $0.84 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts expect Franklin Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Franklin Electric Stock Performance

FELE stock opened at $102.77 on Monday. The company has a quick ratio of 1.20, a current ratio of 2.97 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $102.35 and its two-hundred day simple moving average is $95.70. Franklin Electric has a twelve month low of $82.61 and a twelve month high of $107.89. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.98 and a beta of 0.96.

Franklin Electric Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Franklin Electric’s payout ratio is 24.33%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird increased their target price on Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Finally, Northcoast Research upgraded Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Activity

In other news, CEO Gregg C. Sengstack sold 10,366 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was 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 owns 154,993 shares in the company, valued at $15,493,100.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.72% of the company’s stock.

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.