Franklin Electric (NASDAQ:FELE – Get Free Report) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06), Briefing.com reports. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The business had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. The business’s revenue was down 4.6% on a year-over-year basis. Franklin Electric updated its FY24 guidance to $4.16-4.34 EPS and its FY 2024 guidance to 4.160-4.340 EPS.
Franklin Electric Stock Up 2.5 %
Shares of FELE traded up $2.62 during trading hours on Friday, hitting $106.37. The stock had a trading volume of 70,320 shares, compared to its average volume of 178,671. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $98.05 and a 200-day simple moving average of $99.31. The firm has a market capitalization of $4.90 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. Franklin Electric has a 1-year low of $82.61 and a 1-year high of $107.89.
Franklin Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. Franklin Electric’s dividend payout ratio is presently 24.88%.
Insider Activity
Analyst Ratings Changes
A number of analysts have weighed in on the company. DA Davidson increased their price target on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th.
Read Our Latest Analysis on FELE
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.
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