Flow International Corp (FLOW) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Flow International Corp (NASDAQ:FLOW) released its quarterly earnings results on Wednesday. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03), Briefing.com reports. The company had revenue of $491.10 million for the quarter, compared to analyst estimates of $493.53 million. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS.
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Several research firms recently weighed in on FLOW. Susquehanna Bancshares Inc upgraded shares of Flow International Corp from a “neutral” rating to a “positive” rating and lifted their price target for the company from $41.00 to $42.00 in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Flow International Corp from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, October 17th. Robert W. Baird reiterated a “buy” rating and issued a $50.00 price target on shares of Flow International Corp in a report on Wednesday, October 4th. UBS AG upgraded shares of Flow International Corp from a “neutral” rating to a “positive” rating in a report on Tuesday, August 8th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Flow International Corp in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $43.86.
In other news, VP Stephen A. Tsoris sold 5,850 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $204,750.00. Following the transaction, the vice president now owns 44,694 shares in the company, valued at $1,564,290. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Flow International Corp Company Profile
SPX FLOW, Inc provides various engineered solutions worldwide. The company engineers, designs, manufactures, and markets products and solutions used to process, blend, filter, dry, meter, and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems, and components, as well as aftermarket components and support services.
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