Franklin Electric Co., Inc. Forecasted to Earn Q2 2024 Earnings of $1.28 Per Share (NASDAQ:FELE)

Franklin Electric Co., Inc. (NASDAQ:FELE) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for Franklin Electric in a research report issued on Wednesday, May 1st. DA Davidson analyst M. Summerville anticipates that the industrial products company will earn $1.28 per share for the quarter. DA Davidson has a “Neutral” rating and a $90.00 price objective on the stock. The consensus estimate for Franklin Electric’s current full-year earnings is $4.32 per share.

A number of other equities research analysts have also commented on the company. 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 report on Friday, February 23rd. 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 report on Wednesday, February 14th. Finally, StockNews.com upgraded Franklin Electric from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Franklin Electric Stock Performance

NASDAQ FELE opened at $97.60 on Thursday. Franklin Electric has a 1-year low of $82.61 and a 1-year high of $107.89. The company has a 50 day moving average of $102.34 and a 200-day moving average of $95.88. The company has a current ratio of 2.85, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.86 and a beta of 0.99.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The firm had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders 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 dividend yield of 1.02%. Franklin Electric’s dividend payout ratio (DPR) is presently 24.88%.

Insider Buying and Selling

In other news, CEO Gregg C. Sengstack sold 10,366 shares of the business’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 completion of the transaction, the chief executive officer now owns 154,993 shares of the company’s stock, valued at approximately $15,493,100.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new position in shares of Franklin Electric during the 4th quarter valued at about $26,000. Principal Securities Inc. acquired a new position in shares of Franklin Electric in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC increased its position in shares of Franklin Electric by 88.0% during the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 147 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in Franklin Electric in the 3rd quarter valued at $37,000. Finally, Signaturefd LLC boosted its stake in Franklin Electric by 35.3% in the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 141 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

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.