Franklin Electric (NASDAQ:FELE – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.75-3.85 for the period, compared to the consensus earnings per share estimate of $4.17. The company issued revenue guidance of $2.0 billion, compared to the consensus revenue estimate of $2.06 billion. Franklin Electric also updated its FY 2024 guidance to 3.750-3.850 EPS.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird lowered their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday.
Read Our Latest Research Report on FELE
Franklin Electric Trading Down 0.8 %
Franklin Electric (NASDAQ:FELE – Get Free Report) last posted its 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). The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, equities research analysts expect that Franklin Electric will post 4.22 EPS for the current year.
Franklin Electric Dividend Announcement
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Franklin Electric’s dividend payout ratio is currently 25.32%.
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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