Flowserve Corp. (FLS) Issues FY14 Earnings Guidance
Flowserve Corp. (NYSE:FLS) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.65-4.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.96, StockRatingsNetwork reports. Flowserve Corp. also updated its Q4 guidance to $0.95-$1.00 EPS.
Shares of Flowserve Corp. (NYSE:FLS) traded up 2.55% on Tuesday, hitting $74.02. The stock had a trading volume of 962,270 shares. Flowserve Corp. has a 1-year low of $50.0033 and a 1-year high of $78.89. The stock has a 50-day moving average of $75.77 and a 200-day moving average of $65.61. The company has a market cap of $10.323 billion and a P/E ratio of 21.50.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Flowserve Corp. in a research note to investors on Friday. They now have a $80.00 price target on the stock. On a related note, analysts at Jefferies Group upgraded shares of Flowserve Corp. from a hold rating to a buy rating in a research note to investors on Tuesday, January 14th. They now have a $93.00 price target on the stock. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of Flowserve Corp. in a research note to investors on Tuesday, January 7th. They set a buy rating on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $101.08.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufacture precision-engineered flows control equipment integral to the movement, control and protection of the flow of materials in its customers’ critical processes.
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