Equities research analysts predict that Flowserve Corp (NYSE:FLS) will report earnings of $0.42 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Flowserve’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.46. Flowserve reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Flowserve will report full-year earnings of $1.70 per share for the current year, with EPS estimates ranging from $1.60 to $1.77. For the next year, analysts anticipate that the business will post earnings of $2.12 per share, with EPS estimates ranging from $1.74 to $2.50. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Flowserve.
Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The business had revenue of $973.13 million during the quarter, compared to the consensus estimate of $923.89 million. During the same period in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis.
FLS has been the subject of a number of recent research reports. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, September 11th. BMO Capital Markets upped their price objective on Flowserve from $42.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. Northcoast Research restated a “neutral” rating on shares of Flowserve in a research note on Thursday, August 9th. Oppenheimer restated a “hold” rating on shares of Flowserve in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 price objective (up from $43.00) on shares of Flowserve in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.23.
Shares of NYSE FLS traded down $0.31 during trading on Friday, reaching $51.50. The stock had a trading volume of 44,551 shares, compared to its average volume of 1,296,112. Flowserve has a one year low of $37.71 and a one year high of $56.86. The company has a current ratio of 2.25, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.53.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 21st were paid a $0.19 dividend. The ex-dividend date was Thursday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. Flowserve’s payout ratio is 55.88%.
Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of Flowserve by 10.4% in the second quarter. Russell Investments Group Ltd. now owns 13,961 shares of the industrial products company’s stock valued at $561,000 after buying an additional 1,313 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Flowserve by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 17,763 shares of the industrial products company’s stock valued at $770,000 after buying an additional 1,341 shares during the period. Glen Harbor Capital Management LLC lifted its holdings in shares of Flowserve by 11.5% in the second quarter. Glen Harbor Capital Management LLC now owns 13,580 shares of the industrial products company’s stock valued at $549,000 after buying an additional 1,400 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Flowserve by 7.9% in the third quarter. GHP Investment Advisors Inc. now owns 26,200 shares of the industrial products company’s stock valued at $1,433,000 after buying an additional 1,928 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Flowserve by 30.8% in the second quarter. IFM Investors Pty Ltd now owns 8,889 shares of the industrial products company’s stock valued at $359,000 after buying an additional 2,095 shares during the period.
Flowserve Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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