Flowserve (FLS) Scheduled to Post Earnings on Monday

Flowserve (NYSE:FLS) is set to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Flowserve to post earnings of $0.46 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts expect Flowserve to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Flowserve Stock Performance

Shares of FLS opened at $45.80 on Monday. Flowserve has a one year low of $32.05 and a one year high of $48.31. The company has a 50-day moving average of $44.52 and a two-hundred day moving average of $41.01. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.30 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.83%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio (DPR) is presently 59.57%.

Analyst Ratings Changes

Several brokerages have commented on FLS. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday. Mizuho raised their price target on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada raised their price target on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Robert W. Baird raised their price target on shares of Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Hold” and a consensus target price of $48.25.

Institutional Investors Weigh In On Flowserve

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after acquiring an additional 144,704 shares during the last quarter. BlackRock Inc. grew its stake in shares of Flowserve by 0.8% in the first quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock worth $387,485,000 after acquiring an additional 88,950 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Flowserve in the first quarter worth $163,840,000. State Street Corp grew its stake in shares of Flowserve by 2.4% in the first quarter. State Street Corp now owns 3,770,040 shares of the industrial products company’s stock worth $128,931,000 after acquiring an additional 86,815 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Flowserve by 1.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,261,627 shares of the industrial products company’s stock worth $93,378,000 after acquiring an additional 31,254 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Flowserve

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.