$0.51 Earnings Per Share Expected for Flowserve Corp (FLS) This Quarter

Wall Street brokerages expect Flowserve Corp (NYSE:FLS) to post earnings per share of $0.51 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.43. Flowserve reported earnings of $0.22 per share in the same quarter last year, which would indicate a positive year over year growth rate of 131.8%. The firm is expected to report its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Flowserve will report full year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $1.98 to $2.30. For the next financial year, analysts anticipate that the company will post earnings of $2.58 per share, with EPS estimates ranging from $2.37 to $2.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLS) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $890.05 million during the quarter, compared to analysts’ expectations of $943.79 million. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share.

A number of equities analysts have recently weighed in on FLS shares. ValuEngine raised shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Finally, TheStreet raised shares of Flowserve from a “c” rating to a “b-” rating in a research report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Flowserve presently has a consensus rating of “Hold” and an average target price of $48.85.

In related news, insider John Lenander sold 6,818 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $44.75, for a total value of $305,105.50. Following the completion of the sale, the insider now directly owns 22,130 shares in the company, valued at $990,317.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. grew its stake in Flowserve by 1.3% during the first quarter. EdgePoint Investment Group Inc. now owns 16,016,658 shares of the industrial products company’s stock worth $722,992,000 after buying an additional 198,198 shares during the period. Vanguard Group Inc lifted its holdings in shares of Flowserve by 1.2% in the third quarter. Vanguard Group Inc now owns 13,561,267 shares of the industrial products company’s stock valued at $741,665,000 after purchasing an additional 160,704 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Flowserve by 2.8% in the fourth quarter. BlackRock Inc. now owns 8,529,554 shares of the industrial products company’s stock valued at $324,295,000 after purchasing an additional 231,352 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Flowserve by 5.3% in the first quarter. Geode Capital Management LLC now owns 1,889,677 shares of the industrial products company’s stock valued at $85,158,000 after purchasing an additional 94,277 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Flowserve by 20.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,816,759 shares of the industrial products company’s stock valued at $82,009,000 after purchasing an additional 310,976 shares in the last quarter.

FLS traded up $0.62 during midday trading on Wednesday, reaching $49.77. 733,689 shares of the company’s stock were exchanged, compared to its average volume of 1,027,802. The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. The stock has a market cap of $6.31 billion, a P/E ratio of 28.44, a PEG ratio of 1.42 and a beta of 1.66. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86.

About Flowserve

Flowserve Corporation designs, develops, 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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