Brokerages expect that Flowserve Corp (NYSE:FLS) will report earnings of $0.57 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Flowserve’s earnings, with estimates ranging from $0.53 to $0.59. Flowserve posted earnings of $0.49 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 6th.
On average, analysts expect that Flowserve will report full year earnings of $2.20 per share for the current year, with EPS estimates ranging from $2.17 to $2.28. For the next year, analysts anticipate that the company will post earnings of $2.54 per share, with EPS estimates ranging from $2.40 to $2.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Flowserve.
Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $990.08 million for the quarter, compared to the consensus estimate of $1 billion. Flowserve had a return on equity of 15.75% and a net margin of 5.41%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS.
In related news, insider John Lenander sold 5,761 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $49.32, for a total value of $284,132.52. Following the transaction, the insider now directly owns 16,568 shares of the company’s stock, valued at approximately $817,133.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in shares of Flowserve by 247.3% in the fourth quarter. Stifel Financial Corp now owns 17,435 shares of the industrial products company’s stock valued at $667,000 after buying an additional 12,415 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Flowserve by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 196,051 shares of the industrial products company’s stock valued at $7,454,000 after buying an additional 2,881 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Flowserve in the fourth quarter valued at $1,175,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Flowserve in the fourth quarter valued at $128,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Flowserve by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,041,122 shares of the industrial products company’s stock valued at $39,583,000 after buying an additional 42,447 shares in the last quarter. 98.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flowserve stock traded down $0.30 during midday trading on Thursday, hitting $41.66. The company had a trading volume of 1,469,300 shares, compared to its average volume of 1,023,478. The company has a quick ratio of 1.63, a current ratio of 2.28 and a debt-to-equity ratio of 0.88. The firm has a market cap of $5.58 billion, a PE ratio of 23.81, a P/E/G ratio of 1.25 and a beta of 1.63. The firm has a 50 day moving average price of $49.98. Flowserve has a 52-week low of $35.88 and a 52-week high of $56.86.
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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