Franklin Electric (NASDAQ:FELE) Issues FY 2024 Earnings Guidance

Franklin Electric (NASDAQ:FELE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.750-3.850 for the period, compared to the consensus EPS estimate of 4.200. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.1 billion. Franklin Electric also updated its FY24 guidance to $3.75-3.85 EPS.

Franklin Electric Stock Performance

FELE traded up $0.82 during trading on Friday, reaching $96.53. 10,461 shares of the company were exchanged, compared to its average volume of 174,320. The stock has a market cap of $4.41 billion, a P/E ratio of 24.23, a PEG ratio of 2.09 and a beta of 0.95. The firm has a 50 day moving average of $101.74 and a 200 day moving average of $100.13. The company has a current ratio of 2.40, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. Franklin Electric has a 52 week low of $85.47 and a 52 week high of $108.39.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. During the same period in the previous year, the company posted $1.23 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Franklin Electric will post 3.84 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Franklin Electric’s payout ratio is 25.32%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased 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.