DA Davidson Expects Reduced Earnings for Franklin Electric

Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) - Investment analysts at DA Davidson dropped their FY2024 earnings estimates for shares of Franklin Electric in a report released on Monday, November 4th. DA Davidson analyst M. Summerville now expects that the industrial products company will earn $3.80 per share for the year, down from their prior forecast of $4.20. The consensus estimate for Franklin Electric's current full-year earnings is $3.82 per share. DA Davidson also issued estimates for Franklin Electric's Q4 2024 earnings at $0.67 EPS.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same period in the previous year, the business posted $1.23 EPS. Franklin Electric's revenue for the quarter was down 1.4% on a year-over-year basis.

Separately, Robert W. Baird decreased their target price on shares of Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Stock Up 1.9 %

Shares of NASDAQ FELE traded up $1.87 during trading hours on Tuesday, hitting $100.80. The stock had a trading volume of 211,098 shares, compared to its average volume of 175,473. The company has a market capitalization of $4.61 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.13 and a beta of 0.96. The firm's 50-day moving average price is $101.56 and its two-hundred day moving average price is $100.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. Franklin Electric has a 52 week low of $85.82 and a 52 week high of $108.39.

Franklin Electric Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.99%. Franklin Electric's dividend payout ratio (DPR) is currently 25.32%.

Hedge Funds Weigh In On Franklin Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 107 shares during the period. ORG Partners LLC acquired a new stake in Franklin Electric in the 2nd quarter worth $36,000. GAMMA Investing LLC increased its holdings 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 purchasing an additional 410 shares during the period. CWM LLC grew its position in Franklin Electric by 16.7% during the third 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 acquired a new stake in Franklin Electric during the third quarter worth about $74,000. Institutional investors and hedge funds own 79.98% of the company's stock.

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.