Zacks: Analysts Expect Flowserve Corp (NYSE:FLS) Will Post Earnings of $0.57 Per Share

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.

Several analysts recently weighed in on FLS shares. ValuEngine downgraded Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Friday, May 17th. Citigroup cut their price target on Flowserve from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus upped their price target on Flowserve from $49.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, Credit Suisse Group upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $50.56.

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.

About Flowserve

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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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