Wall Street analysts expect that Flowserve Corp (NYSE:FLS) will report earnings of $0.58 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.55. Flowserve reported earnings of $0.50 per share in the same quarter last year, which suggests a positive year over year growth rate of 16%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, February 20th.
On average, analysts expect that Flowserve will report full year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.72 to $1.79. For the next fiscal year, analysts expect that the business will report earnings of $2.19 per share, with EPS estimates ranging from $2.10 to $2.36. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Flowserve.
Several research firms have weighed in on FLS. DA Davidson raised their target price on Flowserve to $48.00 and gave the company a “neutral” rating in a report on Friday, November 9th. ValuEngine lowered Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, December 13th. Morgan Stanley raised their price target on Flowserve from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Tuesday, November 13th. Royal Bank of Canada raised their price target on Flowserve to $50.00 and gave the company an “average” rating in a research report on Friday, November 9th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $42.00 price target (down from $48.00) on shares of Flowserve in a research report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $48.85.
Large investors have recently modified their holdings of the company. Exane Asset Management acquired a new stake in Flowserve during the fourth quarter worth about $77,000. Enlightenment Research LLC acquired a new stake in Flowserve during the fourth quarter worth about $95,000. Girard Partners LTD. acquired a new stake in Flowserve during the third quarter worth about $101,000. Dupont Capital Management Corp grew its position in Flowserve by 122.7% during the fourth quarter. Dupont Capital Management Corp now owns 3,715 shares of the industrial products company’s stock worth $141,000 after buying an additional 2,047 shares in the last quarter. Finally, Synovus Financial Corp grew its position in Flowserve by 148.2% during the fourth quarter. Synovus Financial Corp now owns 3,907 shares of the industrial products company’s stock worth $149,000 after buying an additional 2,333 shares in the last quarter.
NYSE FLS opened at $43.78 on Wednesday. Flowserve has a fifty-two week low of $35.88 and a fifty-two week high of $56.86. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.60 and a current ratio of 2.24. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 0.99 and a beta of 1.69.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 18th. Stockholders of record on Friday, January 4th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, January 3rd. Flowserve’s dividend payout ratio is currently 55.88%.
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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