Analysts Expect Flowserve Co. (NYSE:FLS) Will Announce Earnings of $0.26 Per Share

Equities research analysts forecast that Flowserve Co. (NYSE:FLSGet Rating) will announce $0.26 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.18. Flowserve posted earnings of $0.37 per share in the same quarter last year, which would indicate a negative year over year growth rate of 29.7%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Flowserve will report full-year earnings of $1.51 per share for the current financial year, with EPS estimates ranging from $1.26 to $1.64. For the next year, analysts anticipate that the company will post earnings of $2.09 per share, with EPS estimates ranging from $1.91 to $2.23. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLSGet Rating) last posted its earnings results on Monday, May 2nd. The industrial products company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Flowserve had a net margin of 2.74% and a return on equity of 8.57%. During the same quarter in the previous year, the company posted $0.28 EPS.

A number of research firms have commented on FLS. Credit Suisse Group cut their target price on shares of Flowserve from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Royal Bank of Canada cut their target price on shares of Flowserve from $38.00 to $33.00 in a research report on Wednesday, May 4th. Mizuho raised shares of Flowserve from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $35.00 in a research report on Friday, February 25th. StockNews.com initiated coverage on shares of Flowserve in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of Flowserve from $32.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Hold” and an average price target of $37.78.

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in Flowserve by 67.7% during the 4th quarter. Raymond James & Associates now owns 66,565 shares of the industrial products company’s stock valued at $2,037,000 after acquiring an additional 26,876 shares during the period. Franklin Resources Inc. lifted its stake in Flowserve by 1,548.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,906,720 shares of the industrial products company’s stock valued at $66,106,000 after acquiring an additional 1,791,087 shares during the period. Cibc World Markets Corp acquired a new stake in Flowserve during the 4th quarter valued at approximately $2,512,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Flowserve by 280.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 190,766 shares of the industrial products company’s stock valued at $6,615,000 after purchasing an additional 140,666 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Flowserve by 2.5% in the 4th quarter. Rhumbline Advisers now owns 364,987 shares of the industrial products company’s stock valued at $11,169,000 after purchasing an additional 8,992 shares during the period. Institutional investors own 97.65% of the company’s stock.

NYSE FLS traded down $0.48 during trading on Wednesday, reaching $31.46. 13,989 shares of the company’s stock traded hands, compared to its average volume of 849,693. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.07 and a quick ratio of 1.44. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58. The company’s 50 day simple moving average is $32.92 and its two-hundred day simple moving average is $32.32. Flowserve has a 12-month low of $28.15 and a 12-month high of $44.39.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 24th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, June 23rd. Flowserve’s dividend payout ratio (DPR) is presently 108.11%.

About Flowserve (Get Rating)

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines.

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