Flowserve (NYSE:FLS) – Oppenheimer raised their FY2018 earnings per share estimates for Flowserve in a note issued to investors on Sunday, May 13th. Oppenheimer analyst J. Giannakouros now anticipates that the industrial products company will post earnings per share of $1.60 for the year, up from their prior estimate of $1.55. Oppenheimer also issued estimates for Flowserve’s FY2019 earnings at $2.00 EPS.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, May 10th. The industrial products company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Flowserve had a negative net margin of 0.03% and a positive return on equity of 10.41%. The firm had revenue of $919.90 million during the quarter, compared to the consensus estimate of $881.72 million. During the same quarter in the prior year, the firm earned $0.25 EPS. Flowserve’s revenue for the quarter was up 6.2% on a year-over-year basis.
FLS stock opened at $44.10 on Wednesday. Flowserve has a 12 month low of $42.85 and a 12 month high of $43.60. The firm has a market capitalization of $5.69 billion, a P/E ratio of 32.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. The company has a quick ratio of 1.62, a current ratio of 2.29 and a debt-to-equity ratio of 0.88.
Institutional investors have recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Flowserve by 9,083.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,158,138 shares of the industrial products company’s stock worth $90,922,000 after purchasing an additional 2,134,637 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in shares of Flowserve during the 1st quarter worth $13,111,000. Candriam Luxembourg S.C.A. acquired a new position in shares of Flowserve during the 4th quarter worth $9,076,000. Westfield Capital Management Co. LP grew its stake in shares of Flowserve by 17.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,405,642 shares of the industrial products company’s stock worth $60,906,000 after purchasing an additional 209,038 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Flowserve during the 1st quarter worth $9,007,000.
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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