Flowserve Corp (NYSE:FLS) – Equities researchers at Seaport Global Securities issued their Q2 2019 earnings per share estimates for shares of Flowserve in a report released on Tuesday. Seaport Global Securities analyst W. Liptak forecasts that the industrial products company will earn $0.35 per share for the quarter. Seaport Global Securities has a “Neutral” rating and a $40.00 price objective on the stock. Seaport Global Securities also issued estimates for Flowserve’s Q4 2019 earnings at $0.60 EPS.
FLS has been the subject of a number of other research reports. BMO Capital Markets cut shares of Flowserve from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $51.00 to $41.00 in a report on Friday, November 3rd. Royal Bank of Canada reaffirmed a “sell” rating and issued a $39.00 price objective on shares of Flowserve in a report on Thursday, January 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Flowserve in a report on Friday, December 15th. Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve in a report on Thursday, November 2nd. Finally, Goldman Sachs Group cut shares of Flowserve from a “neutral” rating to a “sell” rating and cut their price objective for the company from $42.65 to $37.00 in a report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Flowserve currently has an average rating of “Hold” and an average price target of $43.67.
Flowserve (NYSE FLS) traded up $0.68 on Thursday, reaching $44.26. 799,168 shares of the company’s stock were exchanged, compared to its average volume of 1,670,000. Flowserve has a one year low of $37.51 and a one year high of $51.92. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $5,780.00, a PE ratio of 2,213.00, a price-to-earnings-growth ratio of 1.66 and a beta of 1.54.
Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in FLS. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Flowserve by 9,083.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,158,138 shares of the industrial products company’s stock worth $90,922,000 after purchasing an additional 2,134,637 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in Flowserve by 78.5% during the third quarter. Pictet Asset Management Ltd. now owns 2,339,145 shares of the industrial products company’s stock worth $99,624,000 after acquiring an additional 1,028,684 shares during the last quarter. Permian Investment Partners LP acquired a new position in Flowserve during the third quarter worth about $28,535,000. Alyeska Investment Group L.P. boosted its position in Flowserve by 1,290.9% during the third quarter. Alyeska Investment Group L.P. now owns 629,580 shares of the industrial products company’s stock worth $26,814,000 after acquiring an additional 584,317 shares during the last quarter. Finally, Honeywell International Inc. acquired a new position in Flowserve during the third quarter worth about $22,700,000.
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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