$0.27 EPS Expected for Flowserve (FLS) This Quarter

Equities research analysts predict that Flowserve (NYSE:FLS) will post $0.27 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Flowserve’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.31. Flowserve posted earnings per share of $0.25 in the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The company is expected to report its next earnings report on Monday, May 7th.

According to Zacks, analysts expect that Flowserve will report full year earnings of $1.65 per share for the current fiscal year, with EPS estimates ranging from $1.55 to $1.82. For the next financial year, analysts forecast that the business will report earnings of $2.05 per share, with EPS estimates ranging from $1.74 to $2.56. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Flowserve.

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Flowserve (NYSE:FLS) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Flowserve had a positive return on equity of 10.36% and a negative net margin of 0.04%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share.

Several analysts have recently commented on the company. Zacks Investment Research downgraded Flowserve from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lowered their price objective on Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a research note on Tuesday, February 20th. Royal Bank of Canada raised Flowserve from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price target on shares of Flowserve in a research report on Friday, December 15th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Flowserve currently has a consensus rating of “Hold” and an average price target of $43.67.

Institutional investors and hedge funds have recently modified their holdings of the stock. Permian Investment Partners LP bought a new position in Flowserve during the third quarter valued at $28,535,000. California Public Employees Retirement System grew its holdings in Flowserve by 5.4% during the fourth quarter. California Public Employees Retirement System now owns 290,435 shares of the industrial products company’s stock valued at $12,236,000 after purchasing an additional 14,798 shares during the period. Nationwide Fund Advisors grew its holdings in Flowserve by 11.6% during the third quarter. Nationwide Fund Advisors now owns 49,927 shares of the industrial products company’s stock valued at $2,126,000 after purchasing an additional 5,200 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Flowserve by 2.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 657,520 shares of the industrial products company’s stock valued at $28,004,000 after purchasing an additional 13,817 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Flowserve during the fourth quarter valued at $5,909,000.

Shares of Flowserve stock opened at $43.18 on Friday. The company has a market capitalization of $5,647.85, a PE ratio of 32.22, a P/E/G ratio of 1.47 and a beta of 1.45. Flowserve has a 52 week low of $37.51 and a 52 week high of $51.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 1.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, March 28th. Flowserve’s payout ratio is 55.88%.

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About Flowserve

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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