Franklin Electric (NASDAQ:FELE) Updates FY24 Earnings Guidance

Franklin Electric (NASDAQ:FELEGet Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.75-3.85 for the period, compared to the consensus estimate of $4.17. The company issued revenue guidance of $2.0 billion, compared to the consensus revenue estimate of $2.06 billion. Franklin Electric also updated its FY 2024 guidance to 3.750-3.850 EPS.

Franklin Electric Trading Down 0.8 %

Shares of FELE traded down $0.79 during midday trading on Thursday, hitting $95.71. 250,094 shares of the stock were exchanged, compared to its average volume of 175,097. Franklin Electric has a 52-week low of $84.32 and a 52-week high of $108.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. The stock has a fifty day simple moving average of $101.83 and a 200 day simple moving average of $100.16. The firm has a market cap of $4.37 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.02 and a beta of 0.95.

Franklin Electric (NASDAQ:FELEGet Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.13). The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. On average, research analysts anticipate that Franklin Electric will post 4.22 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.04%. Franklin Electric’s dividend payout ratio is presently 25.32%.

Analyst Upgrades and Downgrades

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

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Franklin Electric Company Profile

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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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Earnings History and Estimates for Franklin Electric (NASDAQ:FELE)

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