Flowserve (NYSE:FLS) Updates FY 2024 Earnings Guidance

Flowserve (NYSE:FLS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.500-2.700 for the period, compared to the consensus EPS estimate of 2.540. The company issued revenue guidance of $4.5 billion-$4.6 billion, compared to the consensus revenue estimate of $4.6 billion. Flowserve also updated its FY24 guidance to $2.50-2.70 EPS.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of recent analyst reports. Citigroup increased their price target on Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Flowserve from a strong-buy rating to a buy rating in a report on Saturday. Mizuho boosted their target price on shares of Flowserve from $48.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Stifel Nicolaus raised their price target on shares of Flowserve from $51.00 to $53.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird boosted their price objective on Flowserve from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $48.25.

Flowserve Trading Up 1.0 %

NYSE FLS traded up $0.48 on Monday, reaching $47.24. The stock had a trading volume of 1,649,386 shares, compared to its average volume of 1,067,399. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $44.96 and a two-hundred day moving average price of $41.30. Flowserve has a 12-month low of $32.49 and a 12-month high of $48.31. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 1.33 and a beta of 1.46.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Flowserve will post 2.55 EPS for the current fiscal year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.21 per share. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, March 27th. Flowserve’s payout ratio is 59.57%.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.