FY2024 EPS Forecast for Franklin Electric Reduced by Analyst

Franklin Electric Co., Inc. (NASDAQ:FELE) – Equities researchers at Seaport Res Ptn reduced their FY2024 earnings estimates for shares of Franklin Electric in a research note issued on Tuesday, October 29th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings of $3.84 per share for the year, down from their previous estimate of $4.25. The consensus estimate for Franklin Electric’s current full-year earnings is $4.22 per share. Seaport Res Ptn also issued estimates for Franklin Electric’s Q1 2025 earnings at $0.77 EPS, Q2 2025 earnings at $1.36 EPS, Q3 2025 earnings at $1.29 EPS and FY2025 earnings at $4.30 EPS.

Separately, Robert W. Baird decreased their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday.

Franklin Electric Stock Performance

Shares of NASDAQ FELE opened at $95.71 on Thursday. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07. Franklin Electric has a 12 month low of $84.32 and a 12 month high of $108.39. The company has a 50 day simple moving average of $101.83 and a two-hundred day simple moving average of $100.16. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 2.02 and a beta of 0.95.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.13). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis.

Institutional Investors Weigh In On Franklin Electric

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Franklin Electric by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after purchasing an additional 30,408 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Franklin Electric by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after purchasing an additional 40,248 shares during the period. Earnest Partners LLC grew its holdings in shares of Franklin Electric by 2.6% in the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after purchasing an additional 39,478 shares during the period. Boston Trust Walden Corp lifted its position in Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after buying an additional 3,847 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Franklin Electric by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock valued at $34,833,000 after buying an additional 21,890 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

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.