Equities research analysts expect Flowserve Corp (NYSE:FLS) to report sales of $918.85 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Flowserve’s earnings, with the highest sales estimate coming in at $942.80 million and the lowest estimate coming in at $893.20 million. Flowserve reported sales of $883.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 4%. The business is expected to issue its next quarterly earnings results on Wednesday, November 7th.
On average, 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 anticipate that the firm will report sales of $4.06 billion per share, with estimates ranging from $3.95 billion to $4.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Flowserve.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.08. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. The business had revenue of $973.13 million for the quarter, compared to the consensus estimate of $923.89 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis.
A number of analysts have recently issued reports on FLS shares. Northcoast Research raised shares of Flowserve from a “neutral” rating to a “buy” rating in a research note on Thursday. ValuEngine raised shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Royal Bank of Canada increased their price objective on shares of Flowserve from $40.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Morgan Stanley started coverage on shares of Flowserve in a research note on Monday, August 20th. They issued an “equal weight” rating and a $50.00 price objective for the company. Finally, Cowen increased their price objective on shares of Flowserve from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.33.
FLS traded down $0.41 during trading on Monday, hitting $55.16. The company’s stock had a trading volume of 816,700 shares, compared to its average volume of 1,324,796. The company has a current ratio of 2.25, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89. Flowserve has a one year low of $37.71 and a one year high of $55.75. The company has a market capitalization of $6.97 billion, a PE ratio of 40.56, a PEG ratio of 1.83 and a beta of 1.57.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Friday, September 21st will be paid a $0.19 dividend. The ex-dividend date 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 (DPR) is presently 55.88%.
A number of institutional investors and hedge funds have recently bought and sold shares of FLS. Zurich Insurance Group Ltd FI purchased a new position in Flowserve during the second quarter valued at $131,000. Point72 Hong Kong Ltd purchased a new position in Flowserve during the second quarter valued at $163,000. Tower Research Capital LLC TRC purchased a new position in Flowserve during the second quarter valued at $174,000. Cigna Investments Inc. New purchased a new position in Flowserve during the first quarter valued at $205,000. Finally, D.A. Davidson & CO. purchased a new position in Flowserve during the second quarter valued at $216,000.
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).
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