Wall Street analysts predict that Flowserve Corp (NYSE:FLS) will post $0.43 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Flowserve’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.48. Flowserve posted earnings per share of $0.37 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.2%. The business is scheduled to issue its next earnings results on Wednesday, November 7th.
On average, analysts expect that Flowserve will report full-year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.59 to $1.77. For the next financial year, analysts expect that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.74 to $2.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Flowserve.
Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.08. The firm had revenue of $973.13 million during the quarter, compared to analyst estimates of $923.89 million. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. Flowserve’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS.
A number of research firms have issued reports on FLS. Royal Bank of Canada raised their price target on shares of Flowserve from $40.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday. Citigroup raised their price target on shares of Flowserve from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday. SunTrust Banks raised their price target on shares of Flowserve to $46.00 and gave the stock a “hold” rating in a research report on Friday. Northcoast Research reissued a “neutral” rating on shares of Flowserve in a research report on Thursday. Finally, BMO Capital Markets raised their price target on shares of Flowserve from $42.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.70.
Shares of Flowserve stock traded up $1.23 during midday trading on Friday, hitting $50.10. The company had a trading volume of 2,294,802 shares, compared to its average volume of 1,118,377. Flowserve has a 12-month low of $37.51 and a 12-month high of $51.55. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $6.39 billion, a P/E ratio of 36.84, a PEG ratio of 1.81 and a beta of 1.47.
A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in shares of Flowserve by 10.4% during the second quarter. Russell Investments Group Ltd. now owns 13,961 shares of the industrial products company’s stock worth $561,000 after buying an additional 1,313 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Flowserve by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 17,763 shares of the industrial products company’s stock worth $770,000 after buying an additional 1,341 shares in the last quarter. Rhumbline Advisers boosted its holdings in Flowserve by 0.6% in the first quarter. Rhumbline Advisers now owns 245,212 shares of the industrial products company’s stock valued at $10,625,000 after purchasing an additional 1,417 shares in the last quarter. Norinchukin Bank The boosted its holdings in Flowserve by 14.7% in the first quarter. Norinchukin Bank The now owns 11,985 shares of the industrial products company’s stock valued at $519,000 after purchasing an additional 1,540 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in Flowserve by 30.8% in the second quarter. IFM Investors Pty Ltd now owns 8,889 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 2,095 shares in the last quarter.
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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