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

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

FELE stock opened at $95.71 on Friday. The company has a market capitalization of $4.37 billion, a P/E ratio of 24.23, a PEG ratio of 2.09 and a beta of 0.95. The company has a fifty day moving average price of $101.74 and a 200-day moving average price of $100.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.40. Franklin Electric has a 52-week low of $84.32 and a 52-week high of $108.39.

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 given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.04%. Franklin Electric’s dividend payout ratio is presently 25.32%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note 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.