Flowserve Co. (NYSE:FLS) – SunTrust Banks reduced their Q4 2017 EPS estimates for shares of Flowserve in a note issued to investors on Thursday. SunTrust Banks analyst C. Brady now expects that the industrial products company will earn $0.46 per share for the quarter, down from their prior estimate of $0.54. SunTrust Banks also issued estimates for Flowserve’s Q1 2018 earnings at $0.26 EPS, Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.65 EPS, FY2018 earnings at $1.66 EPS, Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.57 EPS and FY2019 earnings at $2.27 EPS.
Other analysts also recently issued reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 target price on shares of Flowserve in a research report on Friday, July 14th. Cowen and Company restated a “buy” rating and set a $55.00 price target on shares of Flowserve in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 target price on shares of Flowserve in a research note on Sunday, September 3rd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Flowserve in a report on Monday, July 31st. Finally, Zacks Investment Research raised Flowserve from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.27.
Shares of Flowserve (FLS) traded down $0.48 during mid-day trading on Monday, reaching $39.06. The company had a trading volume of 636,552 shares, compared to its average volume of 1,764,259. Flowserve has a 52-week low of $37.51 and a 52-week high of $52.10. The firm has a market capitalization of $5,226.71, a price-to-earnings ratio of 25.65, a PEG ratio of 3.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The company had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve had a return on equity of 11.06% and a net margin of 5.52%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in FLS. SPF Beheer BV boosted its stake in shares of Flowserve by 6.5% during the 3rd quarter. SPF Beheer BV now owns 1,328,423 shares of the industrial products company’s stock worth $56,830,000 after buying an additional 80,792 shares during the last quarter. Stephens Inc. AR raised its holdings in Flowserve by 7.5% in the 3rd quarter. Stephens Inc. AR now owns 57,038 shares of the industrial products company’s stock valued at $2,429,000 after acquiring an additional 3,955 shares during the period. Commerce Bank bought a new position in Flowserve in the 3rd quarter valued at about $217,000. Quantbot Technologies LP bought a new position in Flowserve in the 3rd quarter valued at about $936,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Flowserve by 10.5% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,234 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 3,553 shares during the period.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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