Zacks: Brokerages Anticipate Flowserve Corp (NYSE:FLS) to Post $0.65 EPS

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Equities analysts expect Flowserve Corp (NYSE:FLS) to post earnings of $0.65 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Flowserve’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.61. Flowserve reported earnings per share of $0.58 during the same quarter last year, which suggests a positive year over year growth rate of 12.1%. The business is expected to report its next earnings results on Wednesday, February 19th.

On average, analysts expect that Flowserve will report full-year earnings of $2.19 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.26. For the next year, analysts forecast that the business will post earnings of $2.46 per share, with EPS estimates ranging from $2.35 to $2.67. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Flowserve.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $996.54 million during the quarter, compared to analysts’ expectations of $1.01 billion. Flowserve had a net margin of 6.39% and a return on equity of 16.21%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS.

FLS has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Flowserve from $47.00 to $43.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. TheStreet upgraded shares of Flowserve from a “c+” rating to a “b” rating in a report on Wednesday, October 30th. ValuEngine downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 price objective for the company in a report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Flowserve from $49.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Flowserve currently has a consensus rating of “Hold” and a consensus price target of $51.00.

FLS stock traded up $0.16 during trading on Thursday, reaching $49.13. 532,859 shares of the company were exchanged, compared to its average volume of 999,612. The company has a 50-day moving average of $46.91 and a two-hundred day moving average of $47.89. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 1.56 and a beta of 1.70. Flowserve has a twelve month low of $35.88 and a twelve month high of $54.16. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of FLS. Wells Fargo & Company MN increased its stake in shares of Flowserve by 24.2% during the second quarter. Wells Fargo & Company MN now owns 253,010 shares of the industrial products company’s stock valued at $13,332,000 after buying an additional 49,266 shares during the period. Woodstock Corp increased its holdings in shares of Flowserve by 0.8% during the second quarter. Woodstock Corp now owns 32,550 shares of the industrial products company’s stock worth $1,715,000 after buying an additional 250 shares in the last quarter. Ossiam acquired a new stake in shares of Flowserve during the second quarter worth approximately $117,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Flowserve by 21.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,039 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 3,903 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Flowserve by 7.3% during the second quarter. First Trust Advisors LP now owns 292,512 shares of the industrial products company’s stock worth $15,412,000 after buying an additional 20,015 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

About Flowserve

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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