FY2024 EPS Estimates for Flowserve Co. (NYSE:FLS) Boosted by Zacks Research

Flowserve Co. (NYSE:FLSFree Report) – Zacks Research increased their FY2024 earnings per share estimates for shares of Flowserve in a report issued on Monday, June 10th. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings of $2.61 per share for the year, up from their previous forecast of $2.60. The consensus estimate for Flowserve’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for Flowserve’s Q4 2024 earnings at $0.77 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $2.92 EPS and FY2026 earnings at $3.40 EPS.

Flowserve (NYSE:FLSGet Free Report) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year.

A number of other research firms also recently weighed in on FLS. Citigroup lifted their price target on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 27th. Stifel Nicolaus boosted their price objective on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America increased their target price on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird upped their price target on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

View Our Latest Analysis on FLS

Flowserve Stock Up 1.2 %

FLS stock opened at $47.85 on Tuesday. The stock has a market capitalization of $6.30 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. Flowserve has a one year low of $35.23 and a one year high of $50.49. The company has a fifty day moving average of $47.98 and a 200-day moving average of $43.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88.

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently modified their holdings of the stock. UBS Group AG increased its stake in Flowserve by 332.7% during the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock valued at $10,725,000 after purchasing an additional 207,346 shares during the last quarter. HighTower Advisors LLC raised its stake in Flowserve by 4.8% during the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock worth $1,936,000 after acquiring an additional 2,235 shares during the period. Peregrine Capital Management LLC bought a new position in Flowserve in the fourth quarter worth about $6,031,000. Eaton Financial Holdings Company LLC acquired a new position in Flowserve in the fourth quarter valued at approximately $2,169,000. Finally, Wakefield Asset Management LLLP bought a new position in shares of Flowserve during the fourth quarter valued at approximately $866,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the transaction, the chief executive officer now directly owns 407,243 shares in the company, valued at approximately $20,354,005.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Flowserve Company Profile

(Get Free Report)

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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