Equities research analysts expect Flowserve Corp (NYSE:FLS) to post earnings of $0.44 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Flowserve’s earnings, with estimates ranging from $0.42 to $0.46. Flowserve reported earnings per share of $0.59 in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.4%. The firm is scheduled to issue its next earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Flowserve will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.76. For the next year, analysts expect that the business will report earnings of $1.60 per share, with EPS estimates ranging from $1.30 to $1.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Flowserve.
Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.24. Flowserve had a return on equity of 14.96% and a net margin of 3.77%. The business had revenue of $924.97 million for the quarter, compared to analyst estimates of $890.88 million.
A number of analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Flowserve from $26.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Stifel Nicolaus cut their price target on Flowserve from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Credit Suisse Group lowered their price objective on Flowserve from $33.00 to $31.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. ValuEngine upgraded Flowserve from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Oppenheimer reiterated a “hold” rating on shares of Flowserve in a report on Thursday, July 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.00.
Shares of FLS stock traded up $0.50 during mid-day trading on Friday, reaching $29.42. 1,000,151 shares of the stock traded hands, compared to its average volume of 853,325. The stock’s fifty day simple moving average is $29.98 and its two-hundred day simple moving average is $29.01. Flowserve has a 1-year low of $18.98 and a 1-year high of $51.25. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 3.54 and a beta of 1.82. The company has a quick ratio of 1.60, a current ratio of 2.23 and a debt-to-equity ratio of 0.81.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, September 17th. Flowserve’s dividend payout ratio is presently 36.36%.
A number of hedge funds have recently modified their holdings of the stock. FIL Ltd boosted its holdings in Flowserve by 2.1% during the 2nd quarter. FIL Ltd now owns 15,389 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 315 shares during the period. American International Group Inc. raised its position in shares of Flowserve by 0.9% in the 1st quarter. American International Group Inc. now owns 44,699 shares of the industrial products company’s stock worth $1,068,000 after acquiring an additional 415 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Flowserve by 2.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 24,756 shares of the industrial products company’s stock valued at $592,000 after buying an additional 563 shares in the last quarter. Texas Permanent School Fund boosted its stake in Flowserve by 2.5% during the 1st quarter. Texas Permanent School Fund now owns 23,733 shares of the industrial products company’s stock valued at $567,000 after purchasing an additional 578 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in Flowserve by 3.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 18,197 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 592 shares during the last quarter. Institutional investors own 94.13% of the company’s stock.
Flowserve Corporation designs, develops, 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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