Flowserve (NYSE:FLS) issued its earnings results on Sunday. The industrial products company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.19 by $0.09, MarketWatch Earnings reports. The company had revenue of $857.31 million during the quarter, compared to analysts’ expectations of $813.29 million. Flowserve had a net margin of 3.38% and a return on equity of 14.41%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.
Shares of FLS traded up $1.46 during trading hours on Tuesday, reaching $41.92. The stock had a trading volume of 1,253,499 shares, compared to its average volume of 1,233,316. The company has a quick ratio of 1.91, a current ratio of 2.57 and a debt-to-equity ratio of 1.00. Flowserve has a 52 week low of $21.05 and a 52 week high of $42.24. The firm has a 50-day moving average of $39.73 and a 200 day moving average of $36.72. The company has a market cap of $5.46 billion, a P/E ratio of 42.34, a P/E/G ratio of 2.74 and a beta of 1.75.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Investors of record on Friday, March 26th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 25th. Flowserve’s dividend payout ratio is currently 36.36%.
In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $41.72, for a total transaction of $417,200.00. Following the completion of the transaction, the insider now owns 39,879 shares in the company, valued at approximately $1,663,751.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by corporate insiders.
Several brokerages have commented on FLS. Oppenheimer reiterated a “hold” rating on shares of Flowserve in a research report on Wednesday, January 27th. Credit Suisse Group upped their target price on shares of Flowserve from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 3rd. Citigroup upped their target price on shares of Flowserve from $42.00 to $44.00 in a research report on Thursday, February 25th. Finally, Morgan Stanley upped their target price on shares of Flowserve from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 3rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Flowserve has an average rating of “Hold” and an average price target of $36.86.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, the Middle East, Africa, the Asia Pacific, and Europe. It operates in two segments: Flowserve Pump Division (FPD) and Flow Control Division (FCD).
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