Q2 2018 Earnings Estimate for Flowserve Corp Issued By Northcoast Research (FLS)

Flowserve Corp (NYSE:FLS) – Equities researchers at Northcoast Research lowered their Q2 2018 earnings per share estimates for shares of Flowserve in a research report issued on Tuesday. Northcoast Research analyst A. Cohen now expects that the industrial products company will post earnings per share of $0.31 for the quarter, down from their previous estimate of $0.46. Northcoast Research also issued estimates for Flowserve’s FY2018 earnings at $1.60 EPS.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.02). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Flowserve had a positive return on equity of 10.36% and a negative net margin of 0.04%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share.

A number of other research firms have also commented on FLS. Royal Bank of Canada restated a “sell” rating and set a $39.00 price target on shares of Flowserve in a research report on Thursday, January 4th. Stifel Nicolaus lowered Flowserve from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Monday, December 11th. Zacks Investment Research lowered Flowserve from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Goldman Sachs Group lowered Flowserve from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $42.65 to $37.00 in a research report on Thursday, December 7th. Finally, Seaport Global Securities lowered Flowserve from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $40.00 in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Flowserve presently has an average rating of “Hold” and an average target price of $43.67.

Shares of Flowserve (NYSE FLS) opened at $43.90 on Thursday. The company has a market capitalization of $5,708.75, a P/E ratio of -2,189.00, a P/E/G ratio of 1.66 and a beta of 1.53. Flowserve has a 12-month low of $37.51 and a 12-month high of $51.92. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.90.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC boosted its position in Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after buying an additional 126 shares during the last quarter. Colonial Trust Advisors boosted its position in Flowserve by 2.4% in the 4th quarter. Colonial Trust Advisors now owns 56,860 shares of the industrial products company’s stock valued at $2,396,000 after buying an additional 1,320 shares during the last quarter. Amalgamated Bank boosted its position in Flowserve by 5.6% in the 4th quarter. Amalgamated Bank now owns 27,072 shares of the industrial products company’s stock valued at $1,141,000 after buying an additional 1,426 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Flowserve by 7.2% in the 4th quarter. Meeder Asset Management Inc. now owns 22,785 shares of the industrial products company’s stock valued at $959,000 after buying an additional 1,525 shares during the last quarter. Finally, Isthmus Partners LLC boosted its position in Flowserve by 1.3% in the 3rd quarter. Isthmus Partners LLC now owns 118,798 shares of the industrial products company’s stock valued at $5,060,000 after buying an additional 1,573 shares during the last quarter.

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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.

Earnings History and Estimates for Flowserve (NYSE:FLS)

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