Flowserve (FLS) Set to Announce Quarterly Earnings on Monday

Flowserve (NYSE:FLS) will be releasing its earnings data after the market closes on Monday, July 29th. Analysts expect Flowserve to post earnings of $0.63 per share for the quarter. Flowserve has set its FY24 guidance at $2.50-2.70 EPS and its FY 2024 guidance at 2.500-2.700 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, analysts expect Flowserve to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Flowserve Stock Performance

Shares of FLS stock opened at $50.69 on Friday. The stock has a fifty day moving average of $48.55 and a 200 day moving average of $45.75. Flowserve has a 52 week low of $35.31 and a 52 week high of $52.06. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.30 and a beta of 1.42. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, June 28th. Flowserve’s payout ratio is 47.46%.

Insiders Place Their Bets

In other Flowserve news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the transaction, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLS. StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 12th. Mizuho reiterated a “buy” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Robert W. Baird increased their price objective on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup increased their price objective on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price objective on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus target price of $51.82.

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.