Oppenheimer Weighs in on Flowserve Co.’s Q4 2022 Earnings (NYSE:FLS)

Flowserve Co. (NYSE:FLSGet Rating) – Oppenheimer lifted their Q4 2022 EPS estimates for Flowserve in a research report issued to clients and investors on Monday, August 1st. Oppenheimer analyst B. Blair now anticipates that the industrial products company will earn $0.68 per share for the quarter, up from their previous estimate of $0.67. The consensus estimate for Flowserve’s current full-year earnings is $1.52 per share. Oppenheimer also issued estimates for Flowserve’s FY2023 earnings at $2.00 EPS.

Flowserve (NYSE:FLSGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Flowserve had a net margin of 2.74% and a return on equity of 8.12%. The company had revenue of $882.22 million for the quarter, compared to the consensus estimate of $886.53 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year.

FLS has been the topic of several other research reports. Morgan Stanley upped their price objective on shares of Flowserve from $32.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Bank of America raised shares of Flowserve from an “underperform” rating to a “neutral” rating and set a $31.00 price objective on the stock in a research note on Monday, July 11th. Citigroup upped their price target on shares of Flowserve from $33.00 to $39.00 in a research report on Monday. Stifel Nicolaus dropped their price target on shares of Flowserve from $42.00 to $35.00 in a research report on Wednesday, May 4th. Finally, Royal Bank of Canada dropped their price target on shares of Flowserve from $38.00 to $33.00 in a research report on Wednesday, May 4th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

Flowserve Stock Up 0.6 %

Shares of NYSE FLS opened at $33.84 on Thursday. Flowserve has a 12-month low of $26.84 and a 12-month high of $43.63. The company has a market capitalization of $4.42 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.40. The firm’s 50-day moving average is $29.94 and its two-hundred day moving average is $31.90.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 24th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, June 23rd. Flowserve’s payout ratio is 109.59%.

Institutional Investors Weigh In On Flowserve

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Flowserve by 102.2% during the 1st quarter. SG Americas Securities LLC now owns 80,640 shares of the industrial products company’s stock valued at $2,895,000 after purchasing an additional 40,760 shares in the last quarter. Raymond James & Associates boosted 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 last quarter. Russell Investments Group Ltd. boosted its stake in Flowserve by 21.6% during the 1st quarter. Russell Investments Group Ltd. now owns 957,140 shares of the industrial products company’s stock valued at $34,357,000 after acquiring an additional 170,315 shares during the last quarter. Cibc World Markets Corp bought a new position in Flowserve during the 4th quarter valued at $2,512,000. Finally, Woodstock Corp boosted its stake in Flowserve by 14.3% during the 1st quarter. Woodstock Corp now owns 38,629 shares of the industrial products company’s stock valued at $1,387,000 after acquiring an additional 4,820 shares during the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

Flowserve Company Profile

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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.

See Also

Earnings History and Estimates for Flowserve (NYSE:FLS)

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