$925.88 Million in Sales Expected for Flowserve Corporation (NYSE:FLS) This Quarter
Wall Street analysts forecast that Flowserve Corporation (NYSE:FLS) will announce $925.88 million in sales for the current quarter, according to Zacks. Nine analysts have made estimates for Flowserve Corporation’s earnings. The highest sales estimate is $952.30 million and the lowest is $884.70 million. Flowserve Corporation posted sales of $1.03 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 10.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 27th.
On average, analysts expect that Flowserve Corporation will report full-year sales of $925.88 million for the current fiscal year, with estimates ranging from $3.63 billion to $3.74 billion. For the next financial year, analysts anticipate that the company will report sales of $3.87 billion per share, with estimates ranging from $3.78 billion to $3.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Flowserve Corporation.
Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings results on Monday, May 1st. The industrial products company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Flowserve Corporation had a net margin of 3.12% and a return on equity of 15.76%. The company had revenue of $863.63 million during the quarter, compared to analysts’ expectations of $817.56 million. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s revenue was down 8.8% on a year-over-year basis.
A number of research firms have recently weighed in on FLS. Wolfe Research began coverage on shares of Flowserve Corporation in a research report on Tuesday. They set an “underperform” rating and a $38.00 price target for the company. Citigroup Inc. reissued a “neutral” rating and set a $51.00 price target (down previously from $54.00) on shares of Flowserve Corporation in a research report on Monday. Zacks Investment Research downgraded shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, BMO Capital Markets reissued a “buy” rating and set a $56.00 price target on shares of Flowserve Corporation in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $54.89.
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A number of institutional investors have recently added to or reduced their stakes in FLS. Creative Planning increased its position in Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock worth $112,000 after buying an additional 141 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Flowserve Corporation during the first quarter worth approximately $116,000. Ameritas Investment Partners Inc. acquired a new position in Flowserve Corporation during the first quarter worth approximately $151,000. Mn Services Vermogensbeheer B.V. increased its position in Flowserve Corporation by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock worth $157,000 after buying an additional 174 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Flowserve Corporation by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock worth $158,000 after buying an additional 100 shares in the last quarter.
Shares of Flowserve Corporation (NYSE FLS) traded up 1.09% during mid-day trading on Friday, hitting $46.26. 820,461 shares of the stock traded hands. The stock has a market cap of $6.04 billion, a PE ratio of 49.74 and a beta of 1.48. The stock has a 50-day moving average of $47.61 and a 200 day moving average of $48.43. Flowserve Corporation has a one year low of $39.13 and a one year high of $52.10.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 23rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, June 21st. Flowserve Corporation’s dividend payout ratio is presently 81.72%.
Flowserve Corporation Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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