Flowserve Corp (NYSE:FLS) Expected to Announce Earnings of $0.65 Per Share

Equities analysts expect that Flowserve Corp (NYSE:FLS) will announce $0.65 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Flowserve’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.61. Flowserve posted earnings per share of $0.58 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The company is expected to announce its next quarterly earnings results on Wednesday, February 19th.

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 $2.15 to $2.26. For the next fiscal year, analysts forecast that the firm will report earnings of $2.46 per share, with EPS estimates ranging from $2.35 to $2.67. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Flowserve.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $996.54 million during the quarter, compared to analyst estimates of $1.01 billion. Flowserve had a net margin of 6.39% and a return on equity of 16.21%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS.

Separately, TheStreet raised shares of Flowserve from a “c+” rating to a “b” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Flowserve has a consensus rating of “Hold” and an average price target of $51.17.

Shares of NYSE:FLS traded up $0.64 during trading on Friday, reaching $46.93. 68,604 shares of the company were exchanged, compared to its average volume of 967,558. The firm has a market capitalization of $6.37 billion, a PE ratio of 26.81, a P/E/G ratio of 1.53 and a beta of 1.72. The business’s fifty day simple moving average is $48.42 and its 200-day simple moving average is $47.77. Flowserve has a 12-month low of $35.88 and a 12-month high of $54.16. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.63.

Several institutional investors have recently made changes to their positions in FLS. Metropolitan Life Insurance Co NY raised its holdings in shares of Flowserve by 7.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 21,070 shares of the industrial products company’s stock valued at $984,000 after acquiring an additional 1,472 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Flowserve by 0.4% during the third quarter. California State Teachers Retirement System now owns 223,258 shares of the industrial products company’s stock valued at $10,428,000 after purchasing an additional 964 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Flowserve by 13.0% during the third quarter. Pictet Asset Management Ltd. now owns 98,092 shares of the industrial products company’s stock valued at $4,582,000 after purchasing an additional 11,300 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Flowserve by 438.6% during the third quarter. Stifel Financial Corp now owns 20,575 shares of the industrial products company’s stock valued at $958,000 after purchasing an additional 16,755 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Flowserve by 0.6% during the third quarter. Voya Investment Management LLC now owns 63,618 shares of the industrial products company’s stock valued at $2,972,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Flowserve Company Profile

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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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