Franklin Electric (FELE) Set to Announce Earnings on Tuesday

Franklin Electric (NASDAQ:FELE) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Franklin Electric to post earnings of $0.75 per share for the quarter. Franklin Electric has set its FY24 guidance at $4.22-4.40 EPS and its FY 2024 guidance at 4.220-4.400 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $472.97 million for the quarter, compared to analysts’ expectations of $490.47 million. Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned $0.84 earnings per share. On average, analysts expect Franklin Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Franklin Electric Price Performance

Shares of FELE opened at $102.05 on Tuesday. The firm’s 50-day simple moving average is $102.00 and its two-hundred day simple moving average is $95.33. The stock has a market cap of $4.69 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Franklin Electric has a fifty-two week low of $82.61 and a fifty-two week high of $107.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.97.

Insider Buying and Selling at Franklin Electric

In other 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 sale, the chief executive officer now directly 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 accessible through this hyperlink. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price target on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. StockNews.com downgraded shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 14th. Finally, Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

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.