Flowserve (FLS) Issues FY 2018 Earnings Guidance

Flowserve (NYSE:FLS) updated its FY 2018 earnings guidance on Wednesday. The company provided EPS guidance of $1.65-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70. The company issued revenue guidance of $3.844-3.917 billion, compared to the consensus revenue estimate of $3.9 billion.

Several brokerages have recently weighed in on FLS. Northcoast Research reiterated a neutral rating on shares of Flowserve in a report on Thursday, August 9th. 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 report on Friday, August 10th. Oppenheimer restated a hold rating on shares of Flowserve in a report on Wednesday, August 8th. Robert W. Baird restated a hold rating and set a $47.00 price objective on shares of Flowserve in a report on Friday, July 20th. Finally, Zacks Investment Research downgraded Flowserve from a hold rating to a sell rating in a report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $48.86.

FLS traded up $0.95 during trading on Wednesday, hitting $49.15. 878,692 shares of the stock were exchanged, compared to its average volume of 1,295,288. The company has a market capitalization of $6.18 billion, a P/E ratio of 36.14, a PEG ratio of 1.61 and a beta of 1.55. Flowserve has a 1 year low of $38.38 and a 1 year high of $56.86. 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 (NYSE:FLS) last released its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The company had revenue of $973.13 million for the quarter, compared to the consensus estimate of $923.89 million. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. Flowserve’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. Equities analysts anticipate that Flowserve will post 1.7 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Flowserve (FLS) Issues FY 2018 Earnings Guidance” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/11/07/flowserve-fls-issues-fy-2018-earnings-guidance.html.

Flowserve Company Profile

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).

Read More: What is a stock buyback?

Earnings History and Estimates for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply