Flowserve (NYSE:FLS – Get Free Report) announced its quarterly earnings results on Monday. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11, RTT News reports. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Flowserve updated its FY24 guidance to $2.50-2.70 EPS and its FY 2024 guidance to 2.500-2.700 EPS.
Flowserve Price Performance
Shares of NYSE FLS opened at $47.24 on Tuesday. The firm has a 50-day simple moving average of $45.04 and a 200-day simple moving average of $41.36. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.46. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. Flowserve has a 52 week low of $32.49 and a 52 week high of $48.31.
Flowserve Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio is 59.57%.
Analyst Ratings Changes
View Our Latest Stock Analysis on FLS
Flowserve Company Profile
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.
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