$0.37 EPS Expected for Flowserve Corporation (FLS) This Quarter
Equities analysts predict that Flowserve Corporation (NYSE:FLS) will report earnings of $0.37 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Flowserve Corporation’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.48. Flowserve Corporation reported earnings per share of $0.52 during the same quarter last year, which suggests a negative year over year growth rate of 28.8%. The firm is expected to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that Flowserve Corporation will report full-year earnings of $1.41 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.61. For the next year, analysts anticipate that the firm will report earnings of $2.06 per share, with EPS estimates ranging from $1.70 to $2.67. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Flowserve Corporation.
Flowserve Corporation (NYSE:FLS) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. The company had revenue of $877 million for the quarter, compared to the consensus estimate of $933.91 million. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price objective (up from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. BMO Capital Markets boosted their price objective on shares of Flowserve Corporation from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Royal Bank Of Canada restated a “sell” rating and set a $46.00 target price on shares of Flowserve Corporation in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Flowserve Corporation from a “strong sell” rating to a “hold” rating in a research report on Monday, April 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.36.
Flowserve Corporation (NYSE FLS) traded down 0.05% on Wednesday, hitting $39.42. 1,149,344 shares of the stock were exchanged. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 43.80 and a beta of 1.46. The company has a 50-day moving average of $43.88 and a 200-day moving average of $47.07. Flowserve Corporation has a 12 month low of $38.27 and a 12 month high of $52.10.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Flowserve Corporation by 3,165.9% in the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock worth $386,041,000 after buying an additional 7,728,637 shares during the last quarter. Causeway Capital Management LLC purchased a new position in Flowserve Corporation during the first quarter worth $88,532,000. EdgePoint Investment Group Inc. raised its position in Flowserve Corporation by 22.2% in the second quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after buying an additional 1,146,084 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Flowserve Corporation by 1,673.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,194,634 shares of the industrial products company’s stock worth $57,845,000 after buying an additional 1,127,266 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Flowserve Corporation by 171.6% in the second quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock worth $68,660,000 after buying an additional 934,354 shares during the last quarter.
About Flowserve Corporation
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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