Analysts Expect Flowserve Corporation (FLS) Will Announce Earnings of $0.34 Per Share
Equities research analysts forecast that Flowserve Corporation (NYSE:FLS) will announce earnings per share of $0.34 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Flowserve Corporation’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.27. Flowserve Corporation posted earnings of $0.52 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 34.6%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, November 1st.
On average, analysts expect that Flowserve Corporation will report full year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.31 to $1.44. For the next year, analysts expect that the business will post earnings of $2.00 per share, with EPS estimates ranging from $1.70 to $2.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Flowserve Corporation.
Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The firm had revenue of $877.00 million during the quarter, compared to the consensus estimate of $933.91 million. During the same quarter in the prior year, the business posted $0.57 EPS. Flowserve Corporation’s revenue was down 14.6% compared to the same quarter last year.
Several equities research analysts recently issued reports on FLS shares. Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Flowserve Corporation in a research note on Friday, July 14th. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Flowserve Corporation in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price target on shares of Flowserve Corporation in a research note on Sunday, September 3rd. Zacks Investment Research upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Finally, BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Flowserve Corporation has a consensus rating of “Hold” and a consensus price target of $47.55.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC lifted its stake in Flowserve Corporation by 2.5% during the second quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 126 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in Flowserve Corporation during the second quarter worth $840,000. GAM Holding AG lifted its stake in Flowserve Corporation by 2.4% during the second quarter. GAM Holding AG now owns 56,822 shares of the industrial products company’s stock worth $2,638,000 after purchasing an additional 1,306 shares during the last quarter. Legal & General Group Plc lifted its stake in Flowserve Corporation by 2.9% during the second quarter. Legal & General Group Plc now owns 649,800 shares of the industrial products company’s stock worth $30,170,000 after purchasing an additional 18,039 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Flowserve Corporation by 21.1% during the first quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock worth $25,686,000 after purchasing an additional 92,488 shares during the last quarter.
Shares of Flowserve Corporation (FLS) traded down 0.86% during mid-day trading on Monday, hitting $43.88. The company’s stock had a trading volume of 986,802 shares. Flowserve Corporation has a 1-year low of $37.51 and a 1-year high of $52.10. The company has a 50-day moving average of $43.15 and a 200 day moving average of $44.76. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 54.85 and a beta of 1.47.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 22nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.73%. The ex-dividend date was Thursday, September 21st. Flowserve Corporation’s payout ratio is presently 98.70%.
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About Flowserve Corporation
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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