Q2 2024 Earnings Estimate for Flowserve Co. Issued By Zacks Research (NYSE:FLS)

Flowserve Co. (NYSE:FLS) – Investment analysts at Zacks Research cut their Q2 2024 EPS estimates for shares of Flowserve in a report issued on Monday, May 20th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings of $0.61 per share for the quarter, down from their previous estimate of $0.65. The consensus estimate for Flowserve’s current full-year earnings is $2.64 per share. Zacks Research also issued estimates for Flowserve’s Q2 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.95 EPS and FY2026 earnings at $3.38 EPS.

FLS has been the topic of a number of other research reports. Mizuho reissued a “buy” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Citigroup increased their price objective on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 5th. TD Cowen increased their price target on Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus boosted their price target on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Trading Down 0.9 %

NYSE:FLS opened at $49.98 on Tuesday. The company has a market cap of $6.58 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. Flowserve has a twelve month low of $32.49 and a twelve month high of $50.49. The business has a 50 day moving average price of $47.13 and a two-hundred day moving average price of $42.74. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Investors Weigh In On Flowserve

Hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in shares of Flowserve during the 4th quarter worth about $26,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve during the first quarter worth approximately $36,000. Raleigh Capital Management Inc. boosted its holdings in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 596 shares during the period. TFO Wealth Partners LLC grew its position in shares of Flowserve by 14,663.6% in the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Flowserve during the first quarter worth approximately $87,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment 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 and in the oil and gas production and process markets.