$903.61 Million in Sales Expected for Flowserve Co. (NYSE:FLS) This Quarter

Brokerages forecast that Flowserve Co. (NYSE:FLSGet Rating) will report $903.61 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Flowserve’s earnings, with the highest sales estimate coming in at $955.74 million and the lowest estimate coming in at $877.70 million. Flowserve reported sales of $898.18 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Flowserve will report full year sales of $3.71 billion for the current fiscal year, with estimates ranging from $3.68 billion to $3.76 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.01 billion, with estimates ranging from $3.95 billion to $4.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Flowserve.

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

A number of analysts have recently commented on FLS shares. Royal Bank of Canada cut their price target on Flowserve from $38.00 to $33.00 in a report on Wednesday, May 4th. Citigroup lowered their price target on shares of Flowserve from $42.00 to $38.00 in a report on Wednesday, May 4th. Credit Suisse Group cut their price objective on shares of Flowserve from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. StockNews.com started coverage on shares of Flowserve in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Flowserve from $42.00 to $35.00 in a report on Wednesday, May 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $38.44.

A number of institutional investors and hedge funds have recently bought and sold shares of FLS. Trust Co. of Vermont purchased a new position in shares of Flowserve during the 4th quarter valued at $28,000. Tcwp LLC bought a new stake in Flowserve during the first quarter valued at about $31,000. Covestor Ltd bought a new stake in shares of Flowserve in the fourth quarter worth about $47,000. Eagle Bay Advisors LLC boosted its position in shares of Flowserve by 33.2% during the third quarter. Eagle Bay Advisors LLC now owns 1,547 shares of the industrial products company’s stock valued at $55,000 after buying an additional 386 shares during the period. Finally, Ellevest Inc. lifted its holdings in Flowserve by 284.3% during the fourth quarter. Ellevest Inc. now owns 1,806 shares of the industrial products company’s stock worth $55,000 after buying an additional 1,336 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.

Flowserve stock opened at $30.18 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock has a market cap of $3.94 billion, a PE ratio of 40.78, a P/E/G ratio of 1.23 and a beta of 1.58. The stock has a 50-day moving average price of $33.70 and a 200 day moving average price of $32.55. Flowserve has a 52 week low of $28.15 and a 52 week high of $44.39.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 24th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. Flowserve’s dividend payout ratio (DPR) is presently 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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