Franklin Electric (FELE) to Release Quarterly Earnings on Tuesday

Franklin Electric (NASDAQ:FELE) is scheduled to announce its earnings results before the market opens on Tuesday, July 23rd. Analysts expect the company to announce earnings of $1.29 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 interested in participating in the company’s conference call can do so using this link.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The business had revenue of $460.90 million for the quarter, compared to the consensus estimate of $477.64 million. During the same period in the previous year, the business posted $0.79 EPS. Franklin Electric’s revenue was down 4.9% compared to the same quarter last year. 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 Stock Performance

Shares of FELE opened at $102.51 on Monday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company’s fifty day moving average is $97.98 and its 200-day moving average is $99.14. The company has a quick ratio of 1.17, a current ratio of 2.85 and a debt-to-equity ratio of 0.07. Franklin Electric has a 12 month low of $82.61 and a 12 month high of $107.89.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FELE. DA Davidson raised their target price on Franklin Electric from $87.00 to $90.00 and gave the company 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 research note on Thursday, May 9th.

Insider Buying and Selling

In other Franklin Electric news, insider Jonathan M. Grandon sold 1,391 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $98.00, for a total transaction of $136,318.00. Following the completion of the sale, the insider now directly owns 18,103 shares in the company, valued at $1,774,094. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jonathan M. Grandon sold 1,391 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total value of $136,318.00. Following the sale, the insider now owns 18,103 shares in the company, valued at $1,774,094. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Delancey W. Davis sold 2,214 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.06, for a total value of $225,960.84. Following the transaction, the insider now owns 8,014 shares in the company, valued at $817,908.84. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

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.