Flowserve Corp (NYSE:FLS) – Equities research analysts at Seaport Global Securities reduced their Q1 2018 earnings per share estimates for shares of Flowserve in a report issued on Tuesday. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings of $0.31 per share for the quarter, down from their prior estimate of $0.32. Seaport Global Securities currently has a “Neutral” rating and a $40.00 target price on the stock. Seaport Global Securities also issued estimates for Flowserve’s Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $1.62 EPS, Q1 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.51 EPS and FY2019 earnings at $1.81 EPS.
Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis.
Other analysts have also recently issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a research note on Tuesday. Robert W. Baird reissued a “hold” rating and set a $45.00 price objective on shares of Flowserve in a research note on Friday, December 15th. Boenning Scattergood reissued a “hold” rating on shares of Flowserve in a research note on Thursday, November 2nd. BMO Capital Markets cut shares of Flowserve from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Finally, Royal Bank of Canada raised shares of Flowserve from an “underperform” rating to a “sector perform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.67.
Shares of Flowserve (FLS) opened at $43.70 on Wednesday. Flowserve has a 12 month low of $37.51 and a 12 month high of $51.92. The stock has a market cap of $5,754.47, a price-to-earnings ratio of -2,185.00, a PEG ratio of 2.86 and a beta of 1.53. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.90.
Institutional investors have recently made changes to their positions in the stock. University of Texas Investment Managment Co. purchased a new stake in Flowserve during the 4th quarter worth $107,000. Assetmark Inc. boosted its position in Flowserve by 26,030.0% during the 4th quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 2,603 shares during the period. Zions Bancorporation purchased a new stake in Flowserve during the 3rd quarter worth $117,000. Robeco Institutional Asset Management B.V. purchased a new stake in Flowserve during the 4th quarter worth $118,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Flowserve during the 4th quarter worth $122,000.
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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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