Franklin Electric (FELE) Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Franklin Electric in the last year. There are currently 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" FELE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FELE, but not buy additional shares or sell existing shares.
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5 analysts have issued twelve-month price targets for Franklin Electric's stock. Their FELE share price forecasts range from $82.00 to $93.00. On average, they anticipate the company's share price to reach $88.33 in the next year. This suggests that the stock has a possible downside of 10.5%.
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Franklin Electric's stock was trading at $79.75 at the beginning of the year. Since then, FELE stock has increased by 23.7% and is now trading at $98.67.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 25th 2023.
View our FELE earnings forecast.

Franklin Electric Co., Inc. (NASDAQ:FELE) released its earnings results on Tuesday, May, 2nd. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. The industrial products company earned $484.60 million during the quarter, compared to the consensus estimate of $476.26 million. Franklin Electric had a trailing twelve-month return on equity of 18.76% and a net margin of 9.38%. Franklin Electric's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share.

Franklin Electric announced a quarterly dividend on Monday, April 24th. Shareholders of record on Thursday, May 4th will be given a dividend of $0.225 per share on Thursday, May 18th. This represents a $0.90 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, May 3rd.
Read our dividend analysis for FELE.

ETFs with the largest weight of Franklin Electric (NASDAQ:FELE) stock in their portfolio include Global X Clean Water ETF (AQWA), Invesco S&P SmallCap Industrials ETF (PSCI), iShares MSCI Water Management Multisector ETF (IWTR), iShares Environmental Infrastructure and Industrials ETF (EFRA), First Trust Water ETF (FIW), Ecofin Global Water ESG Fund (EBLU), Horizon Kinetics Energy and Remediation ETF (NVIR) and Invesco S&P Global Water Index ETF (CGW).

Franklin Electric (NASDAQ:FELE) pays an annual dividend of $0.90 per share and currently has a dividend yield of 0.90%. The company has been increasing its dividend for 31 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 21.79%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FELE will have a dividend payout ratio of 19.44% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FELE.

Franklin Electric updated its FY 2023 earnings guidance on Wednesday, May, 3rd. The company provided earnings per share (EPS) guidance of $4.25-$4.45 for the period, compared to the consensus estimate of $4.15. The company issued revenue guidance of $2.15 billion-$2.25 billion, compared to the consensus revenue estimate of $2.14 billion.

36 employees have rated Franklin Electric Chief Executive Officer Gregg Sengstack on Glassdoor.com. Gregg Sengstack has an approval rating of 79% among the company's employees. 84.0% of employees surveyed would recommend working at Franklin Electric to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Franklin Electric investors own include Las Vegas Sands (LVS), AT&T (T), Wendy's (WEN), Altria Group (MO), Kraft Heinz (KHC), Marathon Petroleum (MPC), Pfizer (PFE), QUALCOMM (QCOM), Verizon Communications (VZ) and Carnival Co. & (CCL).

Franklin Electric trades on the NASDAQ under the ticker symbol "FELE."

Franklin Electric's stock is owned by a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (16.85%), State Street Corp (5.57%), Allspring Global Investments Holdings LLC (4.31%), King Luther Capital Management Corp (2.58%), Dimensional Fund Advisors LP (2.23%) and Geode Capital Management LLC (1.80%). Insiders that own company stock include Delancey W Davis, Delancey W Davis, Donald P Kenney, Donald P Kenney, Gregg C Sengstack, Gregg C Sengstack, Jay J Walsh, Jeffery L Taylor, John J Haines, John J Haines, Jonathan M Grandon, Julie Scheck Freigang, Kenneth Keene and Paul Chhabra.
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Shares of FELE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of FELE stock can currently be purchased for approximately $98.67.

Franklin Electric (NASDAQ:FELE) has a market capitalization of $4.56 billion and generates $2.04 billion in revenue each year. The industrial products company earns $187.33 million in net income (profit) each year or $4.13 on an earnings per share basis.

The company employs 6,500 workers across the globe.

Franklin Electric's mailing address is 9255 COVERDALE ROAD, FORT WAYNE IN, 46809. The official website for the company is www.franklin-electric.com. The industrial products company can be reached via phone at (260) 824-2900 or via fax at 260-824-2909.