Analysts predict that Flowserve Corp (NYSE:FLS) will post $0.42 earnings per share for the current quarter, according to Zacks. Eight analysts have provided estimates for Flowserve’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.46. Flowserve posted earnings per share of $0.37 during the same quarter last year, which indicates a positive year-over-year growth rate of 13.5%. The firm is expected to announce its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Flowserve will report full year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.60 to $1.77. For the next fiscal year, analysts expect that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $1.74 to $2.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Flowserve.
Flowserve (NYSE:FLS) last released its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. The firm had revenue of $973.13 million for the quarter, compared to the consensus estimate of $923.89 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis.
A number of equities analysts have recently issued reports on the stock. Northcoast Research upgraded shares of Flowserve from a “neutral” rating to a “buy” rating in a research note on Thursday, September 13th. ValuEngine upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Credit Suisse Group assumed coverage on shares of Flowserve in a research note on Friday. They set a “neutral” rating and a $55.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of Flowserve from $40.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. Finally, Morgan Stanley began coverage on shares of Flowserve in a research note on Monday, August 20th. They set an “equal weight” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.23.
Shares of NYSE FLS traded up $0.62 during midday trading on Friday, reaching $50.04. 1,669,971 shares of the company’s stock traded hands, compared to its average volume of 1,298,262. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 2.25. Flowserve has a one year low of $37.71 and a one year high of $56.86. The company has a market cap of $7.16 billion, a PE ratio of 36.79, a P/E/G ratio of 1.87 and a beta of 1.53.
The company also recently announced a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 21st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $0.76 dividend on an annualized basis and a yield of 1.52%. Flowserve’s payout ratio is 55.88%.
A number of large investors have recently bought and sold shares of the stock. Zurich Insurance Group Ltd FI purchased a new position in shares of Flowserve in the second quarter worth $131,000. Point72 Hong Kong Ltd purchased a new position in shares of Flowserve in the second quarter worth $163,000. Tower Research Capital LLC TRC purchased a new position in shares of Flowserve in the second quarter worth $174,000. D.A. Davidson & CO. purchased a new position in shares of Flowserve in the second quarter worth $216,000. Finally, Visionary Asset Management Inc. purchased a new position in shares of Flowserve in the third quarter worth $218,000.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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