Q4 2022 EPS Estimates for Flowserve Co. (NYSE:FLS) Boosted by Oppenheimer

Flowserve Co. (NYSE:FLSGet Rating) – Analysts at Oppenheimer raised their Q4 2022 EPS estimates for shares of Flowserve in a research note issued to investors on Monday, August 1st. Oppenheimer analyst B. Blair now expects that the industrial products company will earn $0.68 per share for the quarter, up from their previous forecast of $0.67. The consensus estimate for Flowserve’s current full-year earnings is $1.52 per share. Oppenheimer also issued estimates for Flowserve’s FY2023 earnings at $2.00 EPS.

Flowserve (NYSE:FLSGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $882.22 million during the quarter, compared to the consensus estimate of $886.53 million. Flowserve had a net margin of 2.74% and a return on equity of 8.12%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS.

Several other brokerages have also recently issued reports on FLS. Bank of America upgraded shares of Flowserve from an “underperform” rating to a “neutral” rating and set a $31.00 price target for the company in a research report on Monday, July 11th. Stifel Nicolaus decreased their price target on shares of Flowserve from $42.00 to $35.00 in a research report on Wednesday, May 4th. Citigroup upped their price target on shares of Flowserve from $33.00 to $39.00 in a research report on Monday, August 1st. Finally, Royal Bank of Canada decreased their price target on shares of Flowserve from $38.00 to $33.00 in a research report on Wednesday, May 4th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

Flowserve Price Performance

Shares of NYSE:FLS opened at $33.82 on Thursday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 1.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.40. The firm has a 50 day simple moving average of $29.98 and a 200 day simple moving average of $31.91. Flowserve has a one year low of $26.84 and a one year high of $42.28.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, June 24th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, June 23rd. Flowserve’s dividend payout ratio (DPR) is presently 109.59%.

Institutional Investors Weigh In On Flowserve

A number of large investors have recently bought and sold shares of FLS. Nordea Investment Management AB acquired a new stake in Flowserve in the first quarter worth $182,253,000. Wellington Management Group LLP acquired a new stake in Flowserve in the first quarter worth $163,840,000. Massachusetts Financial Services Co. MA acquired a new stake in Flowserve in the first quarter worth $57,909,000. ANTIPODES PARTNERS Ltd acquired a new stake in Flowserve in the first quarter worth $47,147,000. Finally, Millennium Management LLC grew its holdings in Flowserve by 106.5% in the fourth quarter. Millennium Management LLC now owns 2,286,258 shares of the industrial products company’s stock worth $69,959,000 after purchasing an additional 1,179,093 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.

About Flowserve

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Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines.

Further Reading

Earnings History and Estimates for Flowserve (NYSE:FLS)

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