Brokerages predict that Flowserve Corp (NYSE:FLS) will announce sales of $1.02 billion for the current quarter, Zacks reports. Six analysts have issued estimates for Flowserve’s earnings, with the highest sales estimate coming in at $1.02 billion and the lowest estimate coming in at $1.01 billion. Flowserve posted sales of $952.72 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.1%. The business is expected to report its next quarterly earnings results on Wednesday, November 6th.

On average, analysts expect that Flowserve will report full year sales of $3.98 billion for the current fiscal year, with estimates ranging from $3.95 billion to $4.01 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.16 billion, with estimates ranging from $4.09 billion to $4.24 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $990.08 million during the quarter, compared to the consensus estimate of $1 billion. Flowserve had a return on equity of 15.75% and a net margin of 5.41%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share.

Several research firms have recently issued reports on FLS. ValuEngine lowered Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Flowserve from $49.00 to $52.00 and gave the company a “hold” rating in a report on Monday, July 15th. Morgan Stanley reduced their target price on Flowserve from $47.00 to $43.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Zacks Investment Research raised Flowserve from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Friday, May 17th. Finally, Credit Suisse Group raised Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Flowserve has an average rating of “Hold” and an average price target of $50.56.

In other Flowserve news, insider John Lenander sold 5,761 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $49.32, for a total transaction of $284,132.52. Following the completion of the transaction, the insider now directly owns 16,568 shares of the company’s stock, valued at $817,133.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Flowserve by 6.4% in the second quarter. EdgePoint Investment Group Inc. now owns 17,038,215 shares of the industrial products company’s stock worth $897,744,000 after acquiring an additional 1,021,557 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Flowserve by 0.3% in the second quarter. Vanguard Group Inc. now owns 14,158,061 shares of the industrial products company’s stock worth $745,988,000 after acquiring an additional 43,000 shares during the period. BlackRock Inc. boosted its holdings in shares of Flowserve by 1.6% in the second quarter. BlackRock Inc. now owns 8,644,875 shares of the industrial products company’s stock worth $455,498,000 after acquiring an additional 135,969 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Flowserve by 49.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,717,846 shares of the industrial products company’s stock worth $143,203,000 after acquiring an additional 901,087 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Flowserve by 11.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,538,889 shares of the industrial products company’s stock worth $133,774,000 after acquiring an additional 256,887 shares during the period. 98.12% of the stock is owned by hedge funds and other institutional investors.

Shares of FLS stock traded down $0.30 during trading on Friday, hitting $41.66. The company’s stock had a trading volume of 1,469,300 shares, compared to its average volume of 1,023,478. The company has a market cap of $5.58 billion, a P/E ratio of 23.81, a PEG ratio of 1.25 and a beta of 1.63. The company has a current ratio of 2.28, a quick ratio of 1.63 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average is $49.98. Flowserve has a 52 week low of $35.88 and a 52 week high of $56.86.

Flowserve Company Profile

Flowserve Corporation designs, develops, 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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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