Q2 2022 Earnings Estimate for Flowserve Co. Issued By Oppenheimer (NYSE:FLS)

Flowserve Co. (NYSE:FLSGet Rating) – Equities researchers at Oppenheimer lowered their Q2 2022 earnings per share estimates for Flowserve in a research report issued on Thursday, May 5th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will earn $0.30 per share for the quarter, down from their previous forecast of $0.40. Oppenheimer also issued estimates for Flowserve’s Q3 2022 earnings at $0.50 EPS and FY2022 earnings at $1.57 EPS.

Flowserve (NYSE:FLSGet Rating) last announced its earnings results on Monday, May 2nd. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Flowserve had a return on equity of 8.57% and a net margin of 2.74%. During the same period in the prior year, the business posted $0.28 earnings per share.

FLS has been the subject of several other research reports. StockNews.com started coverage on Flowserve in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley increased their target price on Flowserve from $32.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. Citigroup decreased their target price on Flowserve from $42.00 to $38.00 in a research report on Wednesday. Royal Bank of Canada reduced their price objective on Flowserve from $38.00 to $33.00 in a research report on Wednesday. Finally, Mizuho raised Flowserve from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $35.00 in a research report on Friday, February 25th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $38.44.

Shares of NYSE:FLS opened at $31.65 on Friday. Flowserve has a 52-week low of $28.15 and a 52-week high of $44.39. The firm has a market capitalization of $4.13 billion, a P/E ratio of 42.77, a P/E/G ratio of 1.19 and a beta of 1.58. The stock has a 50 day moving average price of $34.07 and a 200-day moving average price of $32.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.51 and a current ratio of 2.07.

Several institutional investors have recently bought and sold shares of FLS. Nordea Investment Management AB bought a new stake in shares of Flowserve in the 1st quarter worth $182,253,000. Franklin Resources Inc. increased its holdings in shares of Flowserve by 1,548.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,906,720 shares of the industrial products company’s stock worth $66,106,000 after purchasing an additional 1,791,087 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Flowserve in the 1st quarter worth $47,147,000. Norges Bank bought a new stake in shares of Flowserve in the 4th quarter worth $39,604,000. Finally, Millennium Management LLC increased its holdings in shares of Flowserve by 106.5% in the 4th quarter. Millennium Management LLC now owns 2,286,258 shares of the industrial products company’s stock worth $69,959,000 after purchasing an additional 1,179,093 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Friday, March 25th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, March 24th. Flowserve’s payout ratio is 108.11%.

Flowserve Company Profile (Get Rating)

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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