Flowserve (NYSE:FLS – Get Free Report) posted its quarterly earnings results on Monday. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05), Briefing.com reports. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Flowserve updated its FY24 guidance to $2.60-2.75 EPS and its FY 2024 guidance to 2.600-2.750 EPS.
Flowserve Price Performance
NYSE FLS traded up $0.92 during trading hours on Tuesday, reaching $53.86. The company’s stock had a trading volume of 934,321 shares, compared to its average volume of 1,070,197. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve has a 1-year low of $35.80 and a 1-year high of $55.90. The company’s 50-day moving average is $50.47 and its two-hundred day moving average is $48.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.
Flowserve Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on FLS
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.
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