Franklin Electric (NASDAQ:FELE) Posts Earnings Results, Misses Estimates By $0.10 EPS

Franklin Electric (NASDAQ:FELE) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10), Briefing.com reports. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same period in the prior year, the company earned $1.23 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Franklin Electric updated its FY24 guidance to $3.75-3.85 EPS and its FY 2024 guidance to 3.750-3.850 EPS.

Franklin Electric Trading Up 0.8 %

FELE traded up $0.79 on Friday, hitting $96.50. 28,690 shares of the company were exchanged, compared to its average volume of 174,406. The firm has a fifty day simple moving average of $101.74 and a two-hundred day simple moving average of $100.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.40. Franklin Electric has a 12 month low of $85.47 and a 12 month high of $108.39. The stock has a market capitalization of $4.41 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given 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 1.04%. Franklin Electric’s payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday.

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.