$918.85 Million in Sales Expected for Flowserve Corp (FLS) This Quarter
Brokerages expect Flowserve Corp (NYSE:FLS) to report $918.85 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Flowserve’s earnings. The highest sales estimate is $942.80 million and the lowest is $893.20 million. Flowserve posted sales of $883.38 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Flowserve will report full-year sales of $3.89 billion for the current fiscal year, with estimates ranging from $3.83 billion to $3.94 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.06 billion per share, with estimates ranging from $3.95 billion to $4.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Flowserve.
Flowserve (NYSE:FLS) last released its earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. The firm had revenue of $973.13 million for the quarter, compared to analyst estimates of $923.89 million. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS.
FLS traded down $0.41 during midday trading on Monday, reaching $55.16. The company’s stock had a trading volume of 816,700 shares, compared to its average volume of 1,324,796. The firm has a market capitalization of $6.97 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 1.83 and a beta of 1.57. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. Flowserve has a twelve month low of $37.71 and a twelve month high of $55.75.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 21st will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. Flowserve’s dividend payout ratio is currently 55.88%.
Hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. lifted its position in shares of Flowserve by 17.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 24,272 shares of the industrial products company’s stock worth $981,000 after buying an additional 3,620 shares during the period. Andra AP fonden bought a new position in shares of Flowserve during the 2nd quarter worth approximately $3,790,000. California Public Employees Retirement System lifted its position in shares of Flowserve by 15.1% during the 2nd quarter. California Public Employees Retirement System now owns 361,856 shares of the industrial products company’s stock worth $14,619,000 after buying an additional 47,381 shares during the period. Putnam Investments LLC lifted its position in shares of Flowserve by 20.4% during the 2nd quarter. Putnam Investments LLC now owns 37,728 shares of the industrial products company’s stock worth $1,524,000 after buying an additional 6,400 shares during the period. Finally, Scopus Asset Management L.P. bought a new position in shares of Flowserve during the 2nd quarter worth approximately $5,393,000.
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).
Featured Article: Asset Allocation
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.