What is Seaport Res Ptn’s Forecast for FELE FY2024 Earnings?

Franklin Electric Co., Inc. (NASDAQ:FELE) – Seaport Res Ptn cut their FY2024 earnings per share estimates for Franklin Electric in a report issued on Tuesday, October 29th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will earn $3.84 per share for the year, down from their previous forecast 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.

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

Separately, Robert W. Baird cut their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday.

Franklin Electric Trading Up 0.4 %

Franklin Electric stock opened at $96.50 on Thursday. The stock has a market cap of $4.45 billion, a P/E ratio of 24.00, a PEG ratio of 2.02 and a beta of 0.95. 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 firm’s fifty day moving average price is $101.83 and its 200-day moving average price is $100.16. Franklin Electric has a fifty-two week low of $84.32 and a fifty-two week high of $108.39.

Institutional Investors Weigh In On Franklin Electric

Large investors have recently modified their holdings of the stock. Marks Group Wealth Management Inc lifted its position in Franklin Electric by 4.5% during the third quarter. Marks Group Wealth Management Inc now owns 81,497 shares of the industrial products company’s stock valued at $8,543,000 after buying an additional 3,507 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Franklin Electric by 16.0% during the third quarter. QRG Capital Management Inc. now owns 5,698 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 786 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock valued at $2,532,000 after buying an additional 7,092 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Franklin Electric by 20.9% in the third quarter. GHP Investment Advisors Inc. now owns 59,226 shares of the industrial products company’s stock valued at $6,208,000 after acquiring an additional 10,224 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in shares of Franklin Electric by 0.6% in the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after purchasing an additional 3,847 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Franklin Electric’s dividend payout ratio is presently 24.88%.

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.