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.
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.
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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