Franklin Electric - FELE Stock Forecast, Price & News

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Franklin Electric in the last year. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities 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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4 Wall Street analysts have issued 1 year price targets for Franklin Electric's shares. Their FELE share price forecasts range from $82.00 to $93.00. On average, they anticipate the company's share price to reach $86.67 in the next twelve months. This suggests that the stock has a possible downside of 5.6%.
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Franklin Electric's stock was trading at $79.75 at the beginning of the year. Since then, FELE shares have increased by 15.1% and is now trading at $91.77.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 25th 2023.
View our FELE earnings forecast.

Franklin Electric Co., Inc. (NASDAQ:FELE) announced its earnings results on Tuesday, February, 14th. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.93 by $0.09. The industrial products company had revenue of $489.43 million for the quarter, compared to the consensus estimate of $483.50 million. Franklin Electric had a net margin of 9.17% and a trailing twelve-month return on equity of 18.68%. The company's revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share.

Franklin Electric declared a quarterly dividend on Monday, January 23rd. Stockholders of record on Thursday, February 2nd will be given a dividend of $0.225 per share on Thursday, February 16th. This represents a $0.90 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, February 1st. This is a boost from the stock's previous quarterly dividend of $0.20.
Read our dividend analysis for FELE.

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

Franklin Electric (NASDAQ:FELE) pays an annual dividend of $0.90 per share and currently has a dividend yield of 1.01%. 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 22.67%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FELE will have a dividend payout ratio of 20.22% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FELE.

Franklin Electric issued an update on its FY 2023 earnings guidance on Tuesday, February, 14th. The company provided EPS guidance of $4.10-$4.30 for the period, compared to the consensus estimate of $4.08. The company issued revenue guidance of $2.10 billion-$2.20 billion, compared to the consensus revenue estimate of $2.03 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 variety of institutional and retail investors. Top institutional shareholders include Earnest Partners LLC (4.91%), Allspring Global Investments Holdings LLC (4.56%), Dimensional Fund Advisors LP (2.29%), Geode Capital Management LLC (1.72%), Bank of America Corp DE (1.65%) and Morgan Stanley (1.17%). 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 $91.77.

Franklin Electric (NASDAQ:FELE) has a market capitalization of $4.24 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 $3.97 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.