Q3 2024 EPS Estimates for Franklin Electric Co., Inc. (NASDAQ:FELE) Lowered by Analyst

Franklin Electric Co., Inc. (NASDAQ:FELE) – Equities research analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share estimates for Franklin Electric in a report released on Wednesday, May 1st. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $1.33 for the quarter, down from their prior estimate of $1.37. The consensus estimate for Franklin Electric’s current full-year earnings is $4.28 per share.

Several other brokerages also recently issued reports on FELE. Robert W. Baird upped their price target on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. StockNews.com upgraded Franklin Electric from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Northcoast Research upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Friday, February 23rd. Finally, 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 note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Franklin Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Franklin Electric Trading Up 1.1 %

Shares of Franklin Electric stock opened at $98.72 on Friday. The firm’s 50 day moving average is $102.35 and its 200 day moving average is $95.90. The firm has a market capitalization of $4.55 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.90 and a beta of 0.99. Franklin Electric has a 1 year low of $82.61 and a 1 year high of $107.89. The company has a current ratio of 2.85, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). The business had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. 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 business posted $0.79 EPS.

Institutional Investors Weigh In On Franklin Electric

A number of hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in Franklin Electric during the fourth quarter valued at about $26,000. Principal Securities Inc. purchased a new position in Franklin Electric in the 4th quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 147 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in shares of Franklin Electric during the third quarter worth $37,000. Finally, Signaturefd LLC lifted its position in shares of Franklin Electric by 35.3% during the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 141 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the transaction, the chief executive officer now directly owns 154,993 shares of the company’s stock, valued at $15,493,100.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.72% of the stock is owned by company insiders.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, May 1st. Franklin Electric’s payout ratio is 24.88%.

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.