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

Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) - Seaport Res Ptn dropped their FY2024 earnings per share estimates for shares of Franklin Electric in a note issued to investors on Tuesday, October 29th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $3.84 per share for the year, down from their previous estimate 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.

Separately, Robert W. Baird decreased their price target on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday.

Franklin Electric Trading Down 0.8 %

NASDAQ:FELE traded down $0.79 during midday trading on Thursday, hitting $95.71. 250,094 shares of the company traded hands, compared to its average volume of 175,097. The firm's fifty day moving average is $101.83 and its 200-day moving average is $100.16. Franklin Electric has a 12-month low of $84.32 and a 12-month high of $108.39. The firm has a market capitalization of $4.37 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.02 and a beta of 0.95. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $1.23 EPS. The business's quarterly revenue was down 1.4% on a year-over-year basis.

Hedge Funds Weigh In On Franklin Electric

Several hedge funds have recently bought and sold shares of FELE. Blue Trust Inc. grew its position in Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 107 shares during the last quarter. ORG Partners LLC bought a new position in shares of Franklin Electric during the 2nd quarter worth $36,000. GAMMA Investing LLC grew its position in shares of Franklin Electric by 130.6% during the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company's stock worth $70,000 after buying an additional 410 shares in the last quarter. CWM LLC grew its position in shares of Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company's stock worth $72,000 after buying an additional 98 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Franklin Electric during the 3rd quarter worth $74,000. Institutional investors own 79.98% of the company's stock.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, November 7th. Franklin Electric's dividend payout ratio (DPR) is presently 25.32%.

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.