Flowserve Corp. (FLS) Posts Earnings Results, Misses Expectations By $0.03 EPS

Flowserve Corp. (NYSE:FLS) released its earnings results on Thursday. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1,000 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Flowserve Corp.’s quarterly revenue was down 11.7% on a year-over-year basis.

Several research firms have recently weighed in on FLS. Robert W. Baird reissued a “hold” rating on shares of Flowserve Corp. in a research report on Monday, May 2nd. Stifel Nicolaus lifted their target price on shares of Flowserve Corp. from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, May 2nd. Jefferies Group reissued a “buy” rating on shares of Flowserve Corp. in a research report on Saturday, April 30th. KeyCorp began coverage on shares of Flowserve Corp. in a research report on Tuesday, May 10th. They issued a “sector weight” rating on the stock. Finally, Vetr downgraded shares of Flowserve Corp. from a “strong-buy” rating to a “buy” rating and set a $49.53 target price on the stock. in a research report on Wednesday, April 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of €62.18 ($69.09).

Shares of Flowserve Corp. (NYSE:FLS) traded down 0.10% during mid-day trading on Thursday, hitting $49.40. 1,820,948 shares of the stock were exchanged. The firm has a 50-day moving average price of $47.77 and a 200 day moving average price of $44.67. Flowserve Corp. has a 12-month low of $33.86 and a 12-month high of $52.50. The company has a market capitalization of $6.44 billion and a PE ratio of 23.52.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, June 24th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, June 22nd.

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment.