Flowserve Corp (FLS) Releases FY14 Earnings Guidance
Flowserve Corp (NYSE:FLS) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.65-4.00 for the period, compared to the Thomson Reuters consensus estimate of $3.89, AnalystRatings.Net reports.
Flowserve Corp (NYSE:FLS) traded down 1.03% on Wednesday, hitting $72.20. The stock had a trading volume of 1,073,825 shares. Flowserve Corp has a one year low of $55.64 and a one year high of $82.24. The stock’s 50-day moving average is $75.09 and its 200-day moving average is $75.95. The company has a market cap of $9.915 billion and a price-to-earnings ratio of 20.68.
Flowserve Corp (NYSE:FLS) last announced its earnings results on Thursday, July 24th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Flowserve Corp will post $3.91 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Flowserve Corp in a research note on Friday, June 27th. They set a sell rating and a $78.00 price target on the stock. Analysts at Zacks reiterated a neutral rating on shares of Flowserve Corp in a research note on Friday, June 6th. They now have a $79.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of Buy and an average target price of $82.40.
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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