KeyCorp Comments on Flowserve Corp’s Q4 2017 Earnings (FLS)

Flowserve Corp (NYSE:FLS) – Investment analysts at KeyCorp decreased their Q4 2017 earnings per share estimates for shares of Flowserve in a research report issued on Wednesday. KeyCorp analyst J. Picariello now forecasts that the industrial products company will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.53. KeyCorp has a “Hold” rating on the stock.

Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The firm had revenue of $883.38 million for the quarter, compared to the consensus estimate of $871.20 million. During the same quarter last year, the firm posted $0.52 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus restated a “buy” rating and set a $49.00 price objective on shares of Flowserve in a report on Tuesday, October 17th. Robert W. Baird restated a “hold” rating and set a $45.00 price objective on shares of Flowserve in a report on Friday. Boenning Scattergood restated a “hold” rating on shares of Flowserve in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Flowserve from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets downgraded shares of Flowserve from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $41.00 in a report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.33.

Flowserve (NYSE:FLS) opened at $41.15 on Friday. Flowserve has a twelve month low of $37.51 and a twelve month high of $52.10. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. The stock has a market cap of $5,500.00, a PE ratio of 25.77, a PEG ratio of 3.25 and a beta of 1.53.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Investors Inc. PA increased its stake in Flowserve by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 46 shares during the period. Evercore Wealth Management LLC increased its stake in Flowserve by 41.2% in the second quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 756 shares during the period. Zions Bancorporation bought a new stake in Flowserve in the third quarter valued at about $117,000. Sciencast Management LP bought a new stake in Flowserve in the second quarter valued at about $201,000. Finally, Blair William & Co. IL bought a new stake in Flowserve in the second quarter valued at about $204,000.

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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.

Earnings History and Estimates for Flowserve (NYSE:FLS)

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