Zacks: Brokerages Anticipate Flowserve Co. (NYSE:FLS) to Post $0.39 EPS

Wall Street brokerages expect that Flowserve Co. (NYSE:FLS) will report earnings per share of $0.39 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Flowserve’s earnings, with estimates ranging from $0.36 to $0.43. Flowserve reported earnings per share of $0.53 in the same quarter last year, which would suggest a negative year over year growth rate of 26.4%. The company is expected to report its next earnings report on Thursday, July 29th.

On average, analysts expect that Flowserve will report full-year earnings of $1.60 per share for the current financial year, with EPS estimates ranging from $1.53 to $1.66. For the next year, analysts anticipate that the company will post earnings of $1.99 per share, with EPS estimates ranging from $1.86 to $2.18. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Flowserve.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Sunday, May 2nd. The industrial products company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. Flowserve had a net margin of 3.54% and a return on equity of 13.96%. The business had revenue of $857.31 million during the quarter, compared to the consensus estimate of $813.29 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year.

FLS has been the subject of a number of recent research reports. Credit Suisse Group boosted their price objective on shares of Flowserve from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, May 5th. Citigroup boosted their price objective on shares of Flowserve from $42.00 to $44.00 in a research report on Thursday, February 25th. Morgan Stanley boosted their price objective on shares of Flowserve from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 5th. Finally, TheStreet downgraded shares of Flowserve from a “b-” rating to a “c+” rating in a research report on Monday, May 24th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $39.67.

Shares of NYSE:FLS traded down $0.40 during trading on Friday, reaching $40.07. 1,031,109 shares of the company’s stock traded hands, compared to its average volume of 1,078,401. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.26 and a quick ratio of 1.64. Flowserve has a 12 month low of $25.53 and a 12 month high of $44.39. The company’s 50 day moving average is $41.62. The stock has a market cap of $5.22 billion, a PE ratio of 40.07, a P/E/G ratio of 2.21 and a beta of 1.79.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Shareholders of record on Friday, June 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, June 24th. Flowserve’s dividend payout ratio (DPR) is 45.98%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Advisors LLC acquired a new stake in shares of Flowserve in the 4th quarter worth approximately $40,000. Tompkins Financial Corp acquired a new stake in shares of Flowserve in the 4th quarter worth approximately $41,000. Captrust Financial Advisors lifted its stake in shares of Flowserve by 297.6% in the 4th quarter. Captrust Financial Advisors now owns 1,634 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,223 shares during the period. Valley Brook Capital Group lifted its stake in shares of Flowserve by 1,520.0% in the 1st quarter. Valley Brook Capital Group now owns 1,620 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,520 shares during the period. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in shares of Flowserve in the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, the Middle East, Africa, the Asia Pacific, and Europe. It operates in two segments: Flowserve Pump Division (FPD) and Flow Control Division (FCD).

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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