Brokerages Anticipate Flowserve Corporation (FLS) to Announce $0.52 Earnings Per Share

Equities analysts expect Flowserve Corporation (NYSE:FLS) to post $0.52 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Flowserve’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.55. Flowserve posted earnings of $0.72 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 27.8%. The business is expected to announce its next quarterly earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Flowserve will report full-year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.34 to $1.40. For the next year, analysts expect that the firm will post earnings of $1.84 per share, with EPS estimates ranging from $1.65 to $2.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The firm had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis.

A number of research analysts have recently commented on the company. Boenning Scattergood reissued a “hold” rating on shares of Flowserve in a report on Thursday, November 2nd. Robert W. Baird reissued a “hold” rating and set a $43.00 price target on shares of Flowserve in a report on Wednesday, October 4th. BMO Capital Markets lowered Flowserve from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $51.00 to $41.00 in a report on Friday, November 3rd. Citigroup reissued a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Flowserve in a report on Monday, October 9th. Finally, Royal Bank Of Canada reissued an “underperform” rating and set a $36.00 price target (down from $38.00) on shares of Flowserve in a report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.27.

Hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in Flowserve by 6.2% during the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after buying an additional 141 shares in the last quarter. Zions Bancorporation bought a new position in Flowserve during the third quarter valued at about $117,000. Federated Investors Inc. PA boosted its stake in Flowserve by 1.8% during the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after buying an additional 46 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in Flowserve by 41.2% during the second quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after buying an additional 756 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Flowserve during the second quarter valued at about $201,000.

Flowserve (FLS) opened at $42.65 on Friday. The company has a market capitalization of $5,570.00, a price-to-earnings ratio of 26.95, a PEG ratio of 3.40 and a beta of 1.53. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. Flowserve has a fifty-two week low of $37.51 and a fifty-two week high of $52.10.

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Flowserve Company Profile

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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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