Flowserve Corporation (FLS) Releases FY17 Earnings Guidance

Flowserve Corporation (NYSE:FLS) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.30-1.40 for the period, compared to the Thomson Reuters consensus estimate of $1.36.

Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Flowserve Corporation from a strong sell rating to a hold rating in a research note on Wednesday, October 18th. Stifel Nicolaus reaffirmed a buy rating and issued a $49.00 price target on shares of Flowserve Corporation in a research note on Tuesday, October 17th. Citigroup Inc. reaffirmed a neutral rating and issued a $48.00 price target (up previously from $46.00) on shares of Flowserve Corporation in a research note on Monday, October 9th. Robert W. Baird reaffirmed a hold rating and issued a $43.00 price target on shares of Flowserve Corporation in a research note on Wednesday, October 4th. Finally, KeyCorp reaffirmed a hold rating on shares of Flowserve Corporation in a research note on Thursday, September 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Flowserve Corporation currently has an average rating of Hold and an average target price of $47.55.

Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, September 21st. Flowserve Corporation’s payout ratio is currently 98.70%.

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Flowserve Corporation 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 Corporation (NYSE:FLS)

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