$882.16 Million in Sales Expected for Flowserve Corp (FLS) This Quarter
Wall Street analysts forecast that Flowserve Corp (NYSE:FLS) will post $882.16 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Flowserve’s earnings, with the lowest sales estimate coming in at $852.00 million and the highest estimate coming in at $896.10 million. Flowserve reported sales of $863.63 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The business is expected to report its next earnings report on Monday, May 7th.
According to Zacks, analysts expect that Flowserve will report full-year sales of $882.16 million for the current financial year, with estimates ranging from $3.78 billion to $3.83 billion. For the next financial year, analysts expect that the business will post sales of $3.99 billion per share, with estimates ranging from $3.91 billion to $4.05 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Flowserve.
Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS.
Shares of Flowserve (FLS) opened at $42.29 on Monday. The company has a market capitalization of $5,531.44, a PE ratio of -2,114.50, a P/E/G ratio of 1.44 and a beta of 1.52. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. Flowserve has a fifty-two week low of $37.51 and a fifty-two week high of $51.92.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.80%. Flowserve’s dividend payout ratio is currently -3,800.00%.
Several hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its position in shares of Flowserve by 2.2% during the third quarter. First Eagle Investment Management LLC now owns 13,059,375 shares of the industrial products company’s stock worth $556,199,000 after buying an additional 276,377 shares during the period. BlackRock Inc. boosted its position in shares of Flowserve by 1.7% during the fourth quarter. BlackRock Inc. now owns 8,348,224 shares of the industrial products company’s stock worth $351,713,000 after buying an additional 139,724 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Flowserve by 2.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,873,051 shares of the industrial products company’s stock worth $121,042,000 after buying an additional 56,774 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Flowserve by 9,083.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,158,138 shares of the industrial products company’s stock worth $90,922,000 after buying an additional 2,134,637 shares during the period. Finally, Gabelli Funds LLC boosted its position in shares of Flowserve by 2.5% during the fourth quarter. Gabelli Funds LLC now owns 1,591,000 shares of the industrial products company’s stock worth $67,029,000 after buying an additional 39,000 shares during the period.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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