Zacks Research Analysts Lift Earnings Estimates for Flowserve Co. (NYSE:FLS)

Flowserve Co. (NYSE:FLSFree Report) – Analysts at Zacks Research increased their FY2024 EPS estimates for shares of Flowserve in a research note issued on Monday, June 10th. Zacks Research analyst R. Department now expects that the industrial products company will earn $2.61 per share for the year, up from their prior estimate of $2.60. The consensus estimate for Flowserve’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for Flowserve’s Q4 2024 earnings at $0.77 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $2.92 EPS and FY2026 earnings at $3.40 EPS.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada upped their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. TD Cowen increased their price objective on Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus boosted their target price on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho reiterated a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Finally, Bank of America boosted their price objective on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.55.

Check Out Our Latest Report on FLS

Flowserve Stock Performance

Shares of NYSE:FLS opened at $47.85 on Tuesday. Flowserve has a twelve month low of $35.23 and a twelve month high of $50.49. The business has a fifty day moving average of $47.98 and a 200-day moving average of $43.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. The firm has a market cap of $6.30 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44.

Flowserve (NYSE:FLSGet Free Report) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.84 annualized dividend and a yield of 1.76%. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Insider Buying and Selling at Flowserve

In other news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the transaction, the chief executive officer now owns 407,243 shares in the company, valued at approximately $20,354,005.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after buying an additional 144,704 shares during the period. Wellington Management Group LLP increased its position in Flowserve by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock valued at $403,065,000 after purchasing an additional 246,636 shares during the period. Dimensional Fund Advisors LP raised its holdings in Flowserve by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after purchasing an additional 157,125 shares during the last quarter. Norges Bank acquired a new position in shares of Flowserve in the 4th quarter worth approximately $59,261,000. Finally, Gabelli Funds LLC lifted its holdings in Flowserve by 1.3% in the first quarter. Gabelli Funds LLC now owns 1,283,016 shares of the industrial products company’s stock valued at $58,608,000 after buying an additional 16,500 shares during the period. 93.93% of the stock is owned by institutional investors.

About Flowserve

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Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment 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 and in the oil and gas production and process markets.

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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