Flowserve Corp (NYSE:FLS) Expected to Post Earnings of $0.51 Per Share

Brokerages expect Flowserve Corp (NYSE:FLS) to announce $0.51 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Flowserve’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.54. Flowserve reported earnings per share of $0.22 in the same quarter last year, which would suggest a positive year-over-year growth rate of 131.8%. The company is expected to issue its next earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that Flowserve will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.15 to $2.31. For the next fiscal year, analysts anticipate that the business will report earnings of $2.58 per share, with EPS estimates ranging from $2.43 to $2.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Flowserve.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. The business had revenue of $890.05 million during the quarter, compared to analyst estimates of $943.79 million. Flowserve had a return on equity of 13.46% and a net margin of 4.25%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS.



A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Morgan Stanley lifted their price objective on Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. Citigroup set a $12.00 price target on Avaya and gave the company a “hold” rating in a research note on Monday, July 8th. Stifel Nicolaus set a $113.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.08.

In related news, insider John Lenander sold 5,761 shares of Flowserve stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $49.32, for a total value of $284,132.52. Following the completion of the transaction, the insider now owns 16,568 shares in the company, valued at approximately $817,133.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.36% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of FLS. Valeo Financial Advisors LLC boosted its holdings in shares of Flowserve by 1,211.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 682 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 630 shares during the last quarter. CSat Investment Advisory L.P. boosted its holdings in shares of Flowserve by 91.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 520 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Flowserve during the 4th quarter worth approximately $128,000. Bluestein R H & Co. acquired a new position in shares of Flowserve during the 1st quarter worth approximately $203,000. Finally, Cubic Asset Management LLC acquired a new position in shares of Flowserve during the 1st quarter worth approximately $207,000. Institutional investors own 98.45% of the company’s stock.

Shares of NYSE FLS traded up $1.20 during trading on Tuesday, reaching $52.56. 696,100 shares of the company traded hands, compared to its average volume of 979,663. The company has a fifty day moving average price of $51.08. The firm has a market cap of $6.72 billion, a PE ratio of 30.03, a P/E/G ratio of 1.49 and a beta of 1.62. Flowserve has a 12-month low of $35.88 and a 12-month high of $56.86. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 2.17.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were paid a $0.19 dividend. The ex-dividend date was Thursday, June 20th. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Flowserve’s dividend payout ratio is presently 43.43%.

About Flowserve

Flowserve Corporation designs, develops, 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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