Analysts Expect Flowserve Corp (NYSE:FLS) Will Announce Earnings of $0.38 Per Share

Equities analysts expect Flowserve Corp (NYSE:FLS) to report $0.38 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.24. Flowserve posted earnings per share of $0.54 during the same quarter last year, which would indicate a negative year-over-year growth rate of 29.6%. The business is expected to announce its next earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Flowserve will report full year earnings of $1.41 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.55. For the next financial year, analysts forecast that the business will post earnings of $1.43 per share, with EPS estimates ranging from $1.10 to $1.66. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Flowserve.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.20). Flowserve had a net margin of 4.96% and a return on equity of 14.99%. The business had revenue of $894.50 million during the quarter, compared to analyst estimates of $874.95 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis.

FLS has been the topic of several research analyst reports. Citigroup dropped their price objective on Flowserve from $49.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Zacks Investment Research lowered Flowserve from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a report on Thursday, April 9th. Credit Suisse Group decreased their target price on Flowserve from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Cowen decreased their target price on Flowserve from $55.00 to $30.00 in a research report on Thursday, March 26th. Finally, Morgan Stanley upgraded Flowserve from an “underweight” rating to an “equal weight” rating and set a $23.00 target price on the stock in a research report on Friday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.90.

A number of institutional investors have recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV lifted its position in Flowserve by 2.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,909 shares of the industrial products company’s stock worth $593,000 after buying an additional 289 shares in the last quarter. American International Group Inc. lifted its position in Flowserve by 0.9% during the first quarter. American International Group Inc. now owns 44,699 shares of the industrial products company’s stock worth $1,068,000 after buying an additional 415 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its position in Flowserve by 0.8% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 70,145 shares of the industrial products company’s stock worth $3,491,000 after buying an additional 525 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Flowserve by 2.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 24,756 shares of the industrial products company’s stock worth $592,000 after buying an additional 563 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in Flowserve by 0.5% during the first quarter. Moody National Bank Trust Division now owns 111,699 shares of the industrial products company’s stock worth $2,669,000 after buying an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

FLS traded up $1.22 during trading on Tuesday, hitting $28.23. The company’s stock had a trading volume of 780,900 shares, compared to its average volume of 1,491,386. The company has a current ratio of 2.19, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89. Flowserve has a twelve month low of $18.98 and a twelve month high of $53.98. The business’s fifty day simple moving average is $26.90 and its 200 day simple moving average is $35.40. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 2.76 and a beta of 1.80.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Friday, June 19th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. Flowserve’s payout ratio is 36.36%.

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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