Bullish indicating open at $55-$60, IPO prices at $37
Franklin Electric Co., Inc. (NASDAQ:FELE) shares have touched a 52-week low, dipping to $80.72, signaling a cautious stance from investors amidst a challenging market environment. According to InvestingPro data, the company maintains robust financial health with a current ratio of 2.22 and more cash than debt on its balance sheet. The company, known for its production and distribution of systems and components for the movement of water and automotive fuels, has seen its stock price fluctuate over the past year, culminating in this recent low point. Despite the broader economic headwinds, Franklin Electric’s YTD performance shows an 8.79% decline, while maintaining its impressive 32-year streak of dividend increases. This latest price level presents a critical juncture for the company as it navigates through the current fiscal year, with InvestingPro analysis indicating the stock is currently trading below its Fair Value. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
In other recent news, Franklin Electric Co., Inc. reported stronger-than-expected earnings for the fourth quarter of 2024, with earnings per share (EPS) of $0.72, surpassing the forecasted $0.67. The company also reported revenue of $485.7 million, exceeding the expected $469.88 million, marking a 3% year-over-year increase in consolidated sales. Additionally, Franklin Electric announced a quarterly cash dividend of $0.265 per share, scheduled for distribution in May 2025. In leadership changes, Russell Fleeger has been appointed as interim Chief Financial Officer, succeeding Jeffery Taylor, who concluded his tenure in March 2025. Fleeger will receive a monthly stipend and an equity award in recognition of his new role. Analyst firm DA Davidson maintained a Neutral rating on Franklin Electric stock, noting that the company’s fourth-quarter sales outperformed their expectations. Franklin Electric’s strategic acquisitions in Australia and Latin America contributed to its growth, despite challenges in the housing market and foreign exchange headwinds.
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