Flowserve (FLS) to Release Earnings on Monday

Flowserve (NYSE:FLS) is scheduled to post its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect Flowserve to post earnings of $0.67 per share for the quarter. Flowserve has set its FY 2024 guidance at 2.600-2.750 EPS and its FY24 guidance at $2.60-2.75 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business earned $0.52 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect Flowserve to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Flowserve Price Performance

FLS stock opened at $52.68 on Friday. The firm has a 50 day moving average price of $50.36 and a 200-day moving average price of $48.83. Flowserve has a 52-week low of $35.52 and a 52-week high of $55.90. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. Flowserve’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FLS shares. Stifel Nicolaus lifted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group raised their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Bank of America reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Flowserve in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their target price on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.