Wall Street brokerages expect Flowserve Corp (NYSE:FLS) to announce earnings per share (EPS) of $0.34 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Flowserve’s earnings, with estimates ranging from $0.30 to $0.37. Flowserve reported earnings of $0.27 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.9%. The business is expected to report its next earnings results on Thursday, May 9th.
According to Zacks, analysts expect that Flowserve will report full year earnings of $2.14 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.28. For the next financial year, analysts forecast that the firm will post earnings of $2.54 per share, with EPS estimates ranging from $2.40 to $2.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Flowserve.
Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $0.58 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.58. The company had revenue of $986.90 million for the quarter, compared to the consensus estimate of $1.06 billion. Flowserve had a return on equity of 12.33% and a net margin of 3.12%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS.
In related news, insider John Lenander sold 6,818 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $44.75, for a total transaction of $305,105.50. Following the sale, the insider now owns 22,130 shares of the company’s stock, valued at approximately $990,317.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Standard Life Aberdeen plc raised its stake in shares of Flowserve by 19.8% in the 3rd quarter. Standard Life Aberdeen plc now owns 36,066 shares of the industrial products company’s stock valued at $1,973,000 after purchasing an additional 5,972 shares during the period. Enlightenment Research LLC acquired a new stake in shares of Flowserve in the 4th quarter valued at about $95,000. Geode Capital Management LLC raised its stake in shares of Flowserve by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 1,795,400 shares of the industrial products company’s stock valued at $68,149,000 after purchasing an additional 134,350 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Flowserve in the 3rd quarter valued at about $526,000. Finally, Legal & General Group Plc raised its stake in shares of Flowserve by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 608,657 shares of the industrial products company’s stock valued at $33,287,000 after purchasing an additional 13,925 shares during the period.
FLS stock opened at $49.45 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.62 and a current ratio of 2.20. The firm has a market capitalization of $6.48 billion, a PE ratio of 28.26, a P/E/G ratio of 1.45 and a beta of 1.64. Flowserve has a twelve month low of $35.88 and a twelve month high of $56.86.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 28th. Flowserve’s payout ratio is presently 43.43%.
Flowserve Corporation designs, develops, 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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