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.

A number of research firms have issued reports on FLS. Northcoast Research raised Flowserve from a “neutral” rating to a “buy” rating in a report on Thursday. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Royal Bank of Canada raised their price objective on Flowserve from $40.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, August 10th. Morgan Stanley began coverage on Flowserve in a research report on Monday, August 20th. They issued an “equal weight” rating and a $50.00 price objective for the company. Finally, Cowen raised their price objective on Flowserve from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $48.33.

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.

About Flowserve

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).

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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