Q2 2024 Earnings Forecast for Franklin Electric Co., Inc. Issued By Seaport Res Ptn (NASDAQ:FELE)

Franklin Electric Co., Inc. (NASDAQ:FELE) – Investment analysts at Seaport Res Ptn lowered their Q2 2024 earnings estimates for shares of Franklin Electric in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $1.31 per share for the quarter, down from their previous estimate of $1.32. The consensus estimate for Franklin Electric’s current full-year earnings is $4.28 per share. Seaport Res Ptn also issued estimates for Franklin Electric’s FY2024 earnings at $4.27 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $1.42 EPS, Q3 2025 earnings at $1.43 EPS and FY2025 earnings at $4.69 EPS.

Other research analysts have also issued research reports about the stock. DA Davidson upped their price target on shares of Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of Franklin Electric from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Northcoast Research raised shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Friday, February 23rd. Finally, Robert W. Baird raised their price objective on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Franklin Electric has an average rating of “Moderate Buy” and an average price target of $100.00.

Franklin Electric Trading Up 0.2 %

NASDAQ:FELE opened at $98.90 on Thursday. The company has a quick ratio of 1.20, a current ratio of 2.85 and a debt-to-equity ratio of 0.07. Franklin Electric has a 52 week low of $82.61 and a 52 week high of $107.89. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.90 and a beta of 0.99. The firm has a 50 day moving average of $102.32 and a 200 day moving average of $95.98.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The firm had revenue of $460.90 million for the quarter, compared to analysts’ expectations of $477.64 million. During the same period in the previous year, the company earned $0.79 EPS. The company’s revenue was down 4.9% on a year-over-year basis.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, May 1st. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insider Buying and Selling at Franklin Electric

In related news, CEO Gregg C. Sengstack sold 10,366 shares of Franklin Electric stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the transaction, the chief executive officer now owns 154,993 shares in the company, valued at $15,493,100.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in Franklin Electric by 35.3% in the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 141 shares during the last quarter. Arizona State Retirement System grew its position in shares of Franklin Electric by 1.3% during the third quarter. Arizona State Retirement System now owns 11,179 shares of the industrial products company’s stock worth $998,000 after acquiring an additional 143 shares during the last quarter. GAMMA Investing LLC grew its position in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 147 shares during the last quarter. Bridge City Capital LLC increased its position in Franklin Electric by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 21,399 shares of the industrial products company’s stock valued at $2,286,000 after acquiring an additional 166 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Franklin Electric by 5.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,548 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 222 shares during the last quarter. 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.