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

Franklin Electric (NASDAQ:FELE) released its quarterly earnings data on Tuesday. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10), Briefing.com reports. The business had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. 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 Stock Performance

FELE stock traded up $0.73 during midday trading on Friday, hitting $96.44. 24,044 shares of the stock traded hands, compared to its average volume of 174,384. The stock’s fifty day simple moving average is $101.74 and its 200-day simple moving average is $100.13. The firm has a market cap of $4.40 billion, a P/E ratio of 24.23, a PEG ratio of 2.09 and a beta of 0.95. Franklin Electric has a 1-year low of $85.47 and a 1-year high of $108.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.14.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors 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 yield of 1.04%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Analysts Set New Price Targets

Separately, Robert W. Baird cut 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.

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.