Flowserve Co. (NYSE:FLS) Expected to Post Earnings of $0.40 Per Share

Equities analysts expect Flowserve Co. (NYSE:FLS) to report earnings per share of $0.40 for the current quarter, Zacks reports. Three analysts have provided estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.37. Flowserve posted earnings per share of $0.50 during the same quarter last year, which would suggest a negative year over year growth rate of 20%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Flowserve will report full-year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.70. For the next year, analysts forecast that the firm will post earnings of $2.03 per share, with EPS estimates ranging from $1.80 to $2.25. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.06). The firm had revenue of $898.18 million for the quarter, compared to the consensus estimate of $891.43 million. Flowserve had a return on equity of 12.59% and a net margin of 4.57%.

Several analysts recently commented on the company. Credit Suisse Group upgraded Flowserve from a “neutral” rating to an “outperform” rating and raised their target price for the company from $43.00 to $48.00 in a research report on Thursday, July 8th. Cowen upgraded shares of Flowserve from a “market perform” rating to an “outperform” rating and increased their target price for the company from $40.00 to $48.00 in a research report on Wednesday, July 7th. Royal Bank of Canada dropped their price target on shares of Flowserve from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Monday, August 9th. Zacks Investment Research cut shares of Flowserve from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a report on Tuesday, June 22nd. Finally, Morgan Stanley dropped their target price on Flowserve from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, October 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

NYSE FLS traded up $1.25 on Friday, hitting $35.57. The stock had a trading volume of 14,043 shares, compared to its average volume of 933,236. The company’s 50-day moving average is $37.17 and its two-hundred day moving average is $39.85. Flowserve has a one year low of $27.58 and a one year high of $44.39. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 1.81 and a beta of 1.77. The company has a quick ratio of 1.64, a current ratio of 2.28 and a debt-to-equity ratio of 0.74.

The company also recently declared a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 24th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.25%. Flowserve’s dividend payout ratio is currently 45.98%.

Several hedge funds and other institutional investors have recently bought and sold shares of FLS. Eagle Bay Advisors LLC acquired a new stake in shares of Flowserve during the second quarter worth approximately $49,000. Dark Forest Capital Management LP purchased a new stake in shares of Flowserve during the 2nd quarter worth about $160,000. Bbva USA acquired a new stake in shares of Flowserve during the 2nd quarter valued at about $204,000. Pinz Capital Management LP bought a new stake in shares of Flowserve in the 1st quarter valued at approximately $206,000. Finally, Advisory Services Network LLC acquired a new position in Flowserve in the second quarter worth approximately $218,000. 94.67% of the stock is owned by institutional investors and hedge funds.

Flowserve Company Profile

Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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