Brokerages Expect Flowserve Co. (NYSE:FLS) to Announce $0.53 EPS

Wall Street brokerages predict that Flowserve Co. (NYSE:FLS) will post earnings per share (EPS) of $0.53 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Flowserve’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.59. Flowserve also reported earnings per share of $0.53 in the same quarter last year. The company is expected to issue its next quarterly earnings results on Tuesday, February 22nd.

On average, analysts expect that Flowserve will report full year earnings of $1.59 per share for the current year, with EPS estimates ranging from $1.50 to $1.70. For the next financial year, analysts anticipate that the firm will post earnings of $2.03 per share, with EPS estimates ranging from $1.80 to $2.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Wednesday, October 27th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). The firm had revenue of $866.12 million for the quarter, compared to analyst estimates of $898.98 million. Flowserve had a return on equity of 12.59% and a net margin of 4.57%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share.

Several research analysts have recently weighed in on FLS shares. Cowen upgraded shares of Flowserve from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $48.00 in a research note on Wednesday, July 7th. Morgan Stanley reduced their target price on shares of Flowserve from $46.00 to $42.00 and set an “equal weight” rating for the company in a report on Thursday, October 7th. UBS Group raised shares of Flowserve from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $46.00 in a report on Thursday, October 14th. Royal Bank of Canada reduced their target price on shares of Flowserve from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Monday, August 9th. Finally, Credit Suisse Group raised shares of Flowserve from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $48.00 in a report on Thursday, July 8th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.13.

Several institutional investors have recently modified their holdings of the company. Logan Capital Management Inc. increased its position in Flowserve by 1.2% in the 1st quarter. Logan Capital Management Inc. now owns 21,873 shares of the industrial products company’s stock valued at $849,000 after acquiring an additional 261 shares during the period. Shell Asset Management Co. increased its position in Flowserve by 5.7% in the 2nd quarter. Shell Asset Management Co. now owns 5,540 shares of the industrial products company’s stock valued at $223,000 after acquiring an additional 300 shares during the period. Scotia Capital Inc. increased its position in Flowserve by 4.1% in the 2nd quarter. Scotia Capital Inc. now owns 8,006 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 313 shares during the period. US Bancorp DE increased its position in Flowserve by 4.4% in the 2nd quarter. US Bancorp DE now owns 9,020 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 379 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Flowserve by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 50,682 shares of the industrial products company’s stock valued at $2,043,000 after acquiring an additional 397 shares during the period. 94.67% of the stock is owned by institutional investors.

Flowserve stock opened at $36.02 on Thursday. The firm has a market capitalization of $4.69 billion, a PE ratio of 28.14, a P/E/G ratio of 1.81 and a beta of 1.77. The company’s 50-day moving average is $36.92 and its 200-day moving average is $39.81. Flowserve has a fifty-two week low of $27.58 and a fifty-two week high of $44.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.28 and a quick ratio of 1.64.

The company also recently declared a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 24th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, September 23rd. Flowserve’s dividend payout ratio (DPR) is presently 45.98%.

About Flowserve

Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.

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