Flowserve Corp (NYSE:FLS) – Northcoast Research boosted their FY2018 earnings per share (EPS) estimates for Flowserve in a research note issued on Friday, November 9th. Northcoast Research analyst A. Cohen now forecasts that the industrial products company will post earnings of $1.79 per share for the year, up from their prior estimate of $1.74. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for Flowserve’s Q3 2019 earnings at $0.54 EPS, FY2019 earnings at $2.22 EPS, Q1 2020 earnings at $0.58 EPS, Q2 2020 earnings at $0.62 EPS, Q3 2020 earnings at $0.60 EPS and FY2020 earnings at $2.50 EPS.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Flowserve had a negative net margin of 1.27% and a positive return on equity of 11.66%. The company had revenue of $952.72 million during the quarter, compared to the consensus estimate of $925.33 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.

Several other brokerages also recently commented on FLS. Stifel Nicolaus boosted their price objective on shares of Flowserve from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Zacks Investment Research upgraded shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 11th. DA Davidson boosted their price objective on shares of Flowserve to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 9th. Vertical Research downgraded shares of Flowserve from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research report on Thursday, October 18th. Finally, Morgan Stanley began coverage on shares of Flowserve in a research report on Monday, August 20th. They set an “equal weight” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Flowserve currently has an average rating of “Hold” and a consensus price target of $50.00.

Shares of FLS opened at $47.77 on Monday. Flowserve has a one year low of $38.46 and a one year high of $56.86. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 1.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.24 and a quick ratio of 1.60.

Several hedge funds and other institutional investors have recently bought and sold shares of FLS. Girard Partners LTD. bought a new stake in shares of Flowserve during the third quarter worth $101,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Flowserve during the second quarter worth $131,000. Point72 Hong Kong Ltd bought a new stake in shares of Flowserve during the second quarter worth $163,000. Tower Research Capital LLC TRC bought a new stake in shares of Flowserve during the second quarter worth $174,000. Finally, Ibex Investors LLC bought a new stake in shares of Flowserve during the third quarter worth $203,000.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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