Flowserve (FLS) Issues FY18 Earnings Guidance

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Flowserve (NYSE:FLS) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.65-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70. The company issued revenue guidance of $3.84-3.92 billion, compared to the consensus revenue estimate of $3.90 billion.Flowserve also updated its FY 2018 guidance to $1.65-1.75 EPS.

FLS stock traded down $1.98 during midday trading on Friday, hitting $51.02. The stock had a trading volume of 15,571 shares, compared to its average volume of 1,335,075. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 1.65 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 has a 1-year low of $38.38 and a 1-year high of $56.86.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. The business had revenue of $952.72 million for the quarter, compared to analyst estimates of $925.33 million. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. Flowserve’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. Research analysts expect that Flowserve will post 1.7 earnings per share for the current year.

Several equities analysts recently issued reports on FLS shares. Royal Bank of Canada restated a hold rating and issued a $40.00 target price on shares of Flowserve in a report on Friday, July 13th. Zacks Investment Research lowered shares of Flowserve from a hold rating to a sell rating in a report on Monday, July 16th. Robert W. Baird reiterated a hold rating and set a $47.00 price objective on shares of Flowserve in a report on Friday, July 20th. ValuEngine upgraded shares of Flowserve from a hold rating to a buy rating in a report on Wednesday, August 8th. Finally, Oppenheimer reiterated a hold rating on shares of Flowserve in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $49.29.

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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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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