Zacks: Brokerages Anticipate Flowserve Corp (FLS) Will Announce Earnings of $0.52 Per Share

Wall Street brokerages expect that Flowserve Corp (NYSE:FLS) will post earnings per share (EPS) of $0.52 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Flowserve’s earnings, with estimates ranging from $0.46 to $0.55. Flowserve posted earnings of $0.72 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.8%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, February 15th.

According to Zacks, analysts expect that Flowserve will report full year earnings of $1.37 per share for the current fiscal year, with EPS estimates ranging from $1.34 to $1.40. For the next year, analysts anticipate that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.65 to $2.02. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Flowserve.

Several brokerages have issued reports on FLS. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price target on shares of Flowserve in a research note on Tuesday, October 17th. Zacks Investment Research raised Flowserve from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve in a research note on Thursday, November 2nd. Royal Bank of Canada reaffirmed a “sell” rating and set a $39.00 price target on shares of Flowserve in a research note on Thursday, January 4th. Finally, Goldman Sachs Group lowered Flowserve from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $42.65 to $37.00 in a research note on Thursday, December 7th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.92.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huber Capital Management LLC lifted its stake in shares of Flowserve by 14.0% in the 4th quarter. Huber Capital Management LLC now owns 24,500 shares of the industrial products company’s stock valued at $1,032,000 after acquiring an additional 3,000 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of Flowserve by 7.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 193,177 shares of the industrial products company’s stock valued at $8,139,000 after acquiring an additional 12,933 shares during the last quarter. Koch Industries Inc. lifted its stake in shares of Flowserve by 107.9% in the 4th quarter. Koch Industries Inc. now owns 13,700 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 7,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Flowserve by 9,083.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,158,138 shares of the industrial products company’s stock valued at $90,922,000 after acquiring an additional 2,134,637 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Flowserve in the 4th quarter valued at about $3,926,000.

Shares of Flowserve (FLS) opened at $41.09 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12. Flowserve has a 52 week low of $37.51 and a 52 week high of $51.92. The stock has a market capitalization of $5,410.90, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.49 and a beta of 1.54.

The business also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, January 5th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, January 4th. Flowserve’s dividend payout ratio (DPR) is presently 58.92%.

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Flowserve Company Profile

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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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