Flowserve Corp (FLS) Updates FY13 Earnings Guidance
Flowserve Corp (FLS) updated its FY13 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.60-10.60 for the period, compared to the Thomson Reuters consensus estimate of $10.29.
A number of research firms have also recently commented on FLS. Analysts at BMO Capital Markets reiterated an outperform rating on shares of Flowserve Corp in a research note to investors on Friday, February 1st. They now have a $178.00 price target on the stock, up previously from $177.00. On a related note, analysts at UBS AG downgraded shares of Flowserve Corp from a buy rating to a neutral rating in a research note to investors on Friday, February 1st. They now have a $160.00 price target on the stock, up previously from $152.00. Finally, analysts at RBC Capital raised their price target on shares of Flowserve Corp from $154.00 to $175.00 in a research note to investors on Monday, January 28th. They now have an outperform rating on the stock.
Eight analysts have rated the stock with a buy rating, two have given an overweight rating, and five have given a hold rating to the company. The stock currently has a consensus rating of overweight and a consensus price target of $169.54.
Flowserve Corp (FLS) traded down 1.21% on Thursday, hitting $155.85. Flowserve Corp (FLS) has a 52-week low of $98.41 and a 52-week high of $160.92. The stock’s 50-day moving average is currently $155.9. The company has a market cap of $7.790 billion and a price-to-earnings ratio of 19.76.
Flowserve Corp last announced its earnings results on Thursday, February 21st. The company reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Flowserve Corp has set its FY13 guidance at $9.60-10.60 EPS. On average, analysts predict that Flowserve Corp (FLS) will post $8.54 earnings per share for the current fiscal year.
Flowserve Corporation (Flowserve) is a manufacturer and aftermarket service provider of comprehensive flow control systems.
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