Flowserve (NYSE:FLS) Updates FY19 Earnings Guidance

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Flowserve (NYSE:FLS) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.15-2.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.19.

Separately, TheStreet raised Flowserve from a c+ rating to a b rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $51.17.

Shares of FLS stock traded up $0.05 during trading hours on Wednesday, hitting $46.94. 6,733 shares of the company were exchanged, compared to its average volume of 602,964. The company has a 50 day simple moving average of $48.39 and a two-hundred day simple moving average of $47.79. The firm has a market cap of $6.37 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.53 and a beta of 1.72. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.63 and a current ratio of 2.29. Flowserve has a fifty-two week low of $35.88 and a fifty-two week high of $54.16.

Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Flowserve had a net margin of 6.39% and a return on equity of 16.21%. The business had revenue of $996.54 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Flowserve’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Flowserve will post 2.19 EPS for the current fiscal year.

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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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