Franklin Electric (FELE) Set to Announce Earnings on Tuesday

Franklin Electric (NASDAQ:FELE) will post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Franklin Electric to post earnings of $0.75 per share for the quarter. Franklin Electric has set its FY24 guidance at $4.22-4.40 EPS and its FY 2024 guidance at 4.220-4.400 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $472.97 million during the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. On average, analysts expect Franklin Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Franklin Electric Stock Up 0.6 %

Franklin Electric stock opened at $102.05 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. Franklin Electric has a 1-year low of $82.61 and a 1-year high of $107.89. The company has a fifty day simple moving average of $102.00 and a 200 day simple moving average of $95.33. The company has a market cap of $4.69 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

Insiders Place Their Bets

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the completion of the transaction, the chief executive officer now directly owns 154,993 shares in the company, valued at $15,493,100.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FELE shares. StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 14th. Northcoast Research upgraded Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Friday, February 23rd. Finally, Robert W. Baird boosted their price objective on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

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.