Flowserve (NYSE:FLS) Announces Earnings Results

Flowserve (NYSE:FLS) released its earnings results on Wednesday. The industrial products company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09, FiscalAI reports. Flowserve had a return on equity of 22.37% and a net margin of 5.42%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $0.90 earnings per share. Flowserve’s quarterly revenue was up 5.4% compared to the same quarter last year.

Flowserve Trading Up 10.8%

Shares of Flowserve stock opened at $79.53 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58. Flowserve has a 1 year low of $63.27 and a 1 year high of $92.41. The company has a market capitalization of $10.11 billion, a P/E ratio of 39.97, a P/E/G ratio of 1.60 and a beta of 1.23. The business has a 50 day moving average price of $74.28 and a 200 day moving average price of $76.40.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 25th. Flowserve’s dividend payout ratio (DPR) is 44.22%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Stifel Nicolaus upped their target price on shares of Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Mizuho lowered their target price on shares of Flowserve from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Royal Bank Of Canada dropped their target price on shares of Flowserve from $94.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Finally, Robert W. Baird set a $93.00 price target on shares of Flowserve in a research report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

About Flowserve

Flowserve Corporation is a global manufacturer of flow-control equipment and related services. The company designs, produces and services pumps, valves, mechanical seals and associated systems used to move, control and protect fluids in industrial processes.

Its products and services support applications across the energy, chemical and petrochemical, water, pharmaceutical, mining, power and general industrial markets. Flowserve also provides aftermarket services, including equipment repair, maintenance, upgrades and replacement parts, helping customers improve the reliability and efficiency of their operations.

Headquartered in Irving, Texas, Flowserve serves customers through manufacturing, sales and service operations in North America, Europe, Asia and other international markets.