Franklin Electric Co., Inc. Expected to Post 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 shares of Franklin Electric in a research note issued to investors on Wednesday, May 1st. DA Davidson analyst M. Summerville expects that the industrial products company will post earnings of $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 $4.28 per share.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data 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). The firm had revenue of $460.90 million for the quarter, compared to the consensus estimate of $477.64 million. Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share.

Several other analysts have also recently weighed in on the company. StockNews.com raised Franklin Electric from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Robert W. Baird boosted their price target on Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Northcoast Research raised 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. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Franklin Electric Stock Performance

Franklin Electric stock opened at $98.90 on Thursday. The stock’s 50 day simple moving average is $102.32 and its two-hundred day simple moving average is $95.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.85. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.90 and a beta of 0.99. Franklin Electric has a fifty-two week low of $82.61 and a fifty-two week high of $107.89.

Franklin Electric Announces Dividend

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 given 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 1.01%. Franklin Electric’s dividend payout ratio is currently 24.88%.

Insider Transactions at Franklin Electric

In related 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 value 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 approximately $15,493,100.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Franklin Electric

A number of hedge funds have recently added to or reduced their stakes in FELE. Pacer Advisors Inc. purchased a new position in Franklin Electric in the 4th quarter worth approximately $26,000. Principal Securities Inc. purchased a new position in Franklin Electric in the 4th quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in Franklin Electric by 88.0% in the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 147 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Franklin Electric during the 3rd quarter valued at $37,000. Finally, Signaturefd LLC lifted its holdings in shares of Franklin Electric by 35.3% during the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $52,000 after buying an additional 141 shares during the period. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

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.