What is DA Davidson’s Forecast for FELE FY2024 Earnings?

by · The Markets Daily

Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) – DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Franklin Electric in a report issued on Monday, November 4th. DA Davidson analyst M. Summerville now expects that the industrial products company will post earnings per share of $3.80 for the year, down from their previous estimate of $4.20. The consensus estimate for Franklin Electric’s current full-year earnings is $3.84 per share. DA Davidson also issued estimates for Franklin Electric’s Q4 2024 earnings at $0.67 EPS.

Separately, Robert W. Baird dropped their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

Check Out Our Latest Report on FELE

Franklin Electric Stock Performance

Shares of FELE opened at $98.93 on Tuesday. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 2.08 and a beta of 0.96. Franklin Electric has a 12 month low of $85.82 and a 12 month high of $108.39. The company has a current ratio of 2.40, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $101.56 and its two-hundred day simple moving average is $100.09.

Franklin Electric (NASDAQ:FELE – Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter in the prior year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.01%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Hedge Funds Weigh In On Franklin Electric

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Franklin Electric during the first quarter valued at $968,000. Vanguard Group Inc. lifted its position in Franklin Electric by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after purchasing an additional 30,408 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Franklin Electric by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock valued at $5,197,000 after purchasing an additional 5,311 shares in the last quarter. SG Americas Securities LLC lifted its position in Franklin Electric by 357.6% during the second quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock valued at $889,000 after purchasing an additional 7,213 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in Franklin Electric by 328.4% during the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock valued at $6,206,000 after purchasing an additional 49,391 shares in the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Company Profile

(Get Free Report)

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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