Brokerages expect Flowserve Corp (NYSE:FLS) to announce $0.42 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 $0.36 and the highest estimate coming in at $0.46. Flowserve reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.5%. The business is expected to issue its next earnings results after the market closes on Wednesday, November 7th.
On average, analysts expect that Flowserve will report full year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.60 to $1.77. For the next year, analysts anticipate that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $1.74 to $2.50. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Flowserve.
Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. The firm had revenue of $973.13 million during the quarter, compared to the consensus estimate of $923.89 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year.
A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Flowserve from $42.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. Northcoast Research reissued a “neutral” rating on shares of Flowserve in a research note on Thursday, August 9th. Robert W. Baird reissued a “hold” rating and issued a $47.00 price target on shares of Flowserve in a research note on Friday, July 20th. Citigroup increased their price target on shares of Flowserve from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Finally, Royal Bank of Canada increased their price target on shares of Flowserve from $40.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.86.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. grew its holdings in Flowserve by 4.5% in the second quarter. EdgePoint Investment Group Inc. now owns 14,533,419 shares of the industrial products company’s stock worth $587,150,000 after purchasing an additional 624,832 shares during the period. FMR LLC grew its holdings in shares of Flowserve by 0.5% during the second quarter. FMR LLC now owns 9,337,955 shares of the industrial products company’s stock valued at $377,253,000 after buying an additional 48,606 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Flowserve by 0.9% during the second quarter. Gamco Investors INC. ET AL now owns 2,818,792 shares of the industrial products company’s stock valued at $113,879,000 after buying an additional 25,172 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Flowserve by 42.9% during the second quarter. Bank of America Corp DE now owns 2,757,648 shares of the industrial products company’s stock valued at $111,409,000 after buying an additional 827,459 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new stake in shares of Flowserve during the second quarter valued at approximately $54,163,000.
FLS stock opened at $47.36 on Tuesday. Flowserve has a 1 year low of $38.38 and a 1 year high of $56.86. The stock has a market capitalization of $6.18 billion, a P/E ratio of 34.82, a P/E/G ratio of 1.61 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89.
Flowserve Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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