Northcoast Research Analysts Lift Earnings Estimates for Flowserve Corp (FLS)
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.
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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