Analysts Expect Flowserve Corp (FLS) Will Announce Earnings of $0.42 Per Share
Equities research analysts predict that Flowserve Corp (NYSE:FLS) will announce earnings per share (EPS) of $0.42 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.36. Flowserve reported earnings per share of $0.37 during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.5%. The company is scheduled to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Flowserve will report full-year earnings of $1.69 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.77. For the next year, analysts expect that the business will report earnings of $2.10 per share, with EPS estimates ranging from $1.74 to $2.50. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Flowserve.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. The business had revenue of $973.13 million during the quarter, compared to the consensus estimate of $923.89 million. During the same quarter last year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year.
Shares of FLS stock traded up $0.17 during mid-day trading on Friday, reaching $52.63. 1,004,075 shares of the company were exchanged, compared to its average volume of 1,070,056. Flowserve has a fifty-two week low of $37.71 and a fifty-two week high of $53.29. The company has a current ratio of 2.25, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.86 billion, a P/E ratio of 38.70, a PEG ratio of 1.80 and a beta of 1.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, September 20th. Flowserve’s dividend payout ratio is presently 55.88%.
Institutional investors have recently added to or reduced their stakes in the business. Zurich Insurance Group Ltd FI bought a new stake in Flowserve in the second quarter valued at $131,000. Point72 Hong Kong Ltd bought a new stake in Flowserve in the second quarter valued at $163,000. Tower Research Capital LLC TRC bought a new stake in Flowserve in the second quarter valued at $174,000. Cigna Investments Inc. New bought a new stake in Flowserve in the first quarter valued at $205,000. Finally, D.A. Davidson & CO. bought a new stake in Flowserve in the second quarter valued at $216,000.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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