Flowserve Corp (FLS) Expected to Announce Earnings of $0.42 Per Share

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.

About Flowserve

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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