Flowserve Co. (NYSE:FLS) – Analysts at Oppenheimer decreased their Q3 2021 earnings estimates for Flowserve in a research note issued to investors on Wednesday, October 13th. Oppenheimer analyst B. Blair now forecasts that the industrial products company will earn $0.37 per share for the quarter, down from their previous estimate of $0.38. Oppenheimer also issued estimates for Flowserve’s FY2022 earnings at $2.02 EPS and FY2023 earnings at $2.25 EPS.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Flowserve from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a report on Tuesday, June 22nd. Credit Suisse Group upgraded Flowserve from a “neutral” rating to an “outperform” rating and increased their price target for the company from $43.00 to $48.00 in a report on Thursday, July 8th. Morgan Stanley lowered their price target on Flowserve from $46.00 to $42.00 and set an “equal weight” rating for the company in a report on Thursday, October 7th. Royal Bank of Canada lowered their price target on Flowserve from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Monday, August 9th. Finally, Cowen upgraded Flowserve from a “market perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $48.00 in a research note on Wednesday, July 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.00.
Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, August 5th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The firm had revenue of $898.18 million for the quarter, compared to analyst estimates of $891.43 million. Flowserve had a return on equity of 12.59% and a net margin of 4.57%.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 24th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.33%. Flowserve’s dividend payout ratio is presently 45.98%.
Several institutional investors have recently made changes to their positions in FLS. Eagle Bay Advisors LLC acquired a new stake in shares of Flowserve during the second quarter valued at about $49,000. Dark Forest Capital Management LP bought a new position in shares of Flowserve during the second quarter worth about $160,000. Bbva USA bought a new position in shares of Flowserve during the second quarter worth about $204,000. Pinz Capital Management LP bought a new position in shares of Flowserve during the first quarter worth about $206,000. Finally, Advisory Services Network LLC bought a new position in shares of Flowserve during the second quarter worth about $218,000. Institutional investors own 94.67% of the company’s stock.
Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.
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