Flowserve Corporation (FLS) Expected to Announce Quarterly Sales of $1.03 Billion
Equities analysts expect Flowserve Corporation (NYSE:FLS) to announce $1.03 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Flowserve’s earnings. The lowest sales estimate is $1.00 billion and the highest is $1.05 billion. Flowserve posted sales of $1.07 billion in the same quarter last year, which would indicate a negative year over year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 15th.
On average, analysts expect that Flowserve will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $3.63 billion to $3.67 billion. For the next financial year, analysts expect that the firm will report sales of $3.75 billion per share, with estimates ranging from $3.70 billion to $3.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Flowserve.
Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share.
Several research firms recently weighed in on FLS. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve in a research report on Thursday, November 2nd. Robert W. Baird reiterated a “hold” rating and set a $43.00 target price on shares of Flowserve in a research report on Wednesday, October 4th. BMO Capital Markets downgraded Flowserve from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $41.00 in a research report on Friday, November 3rd. Zacks Investment Research upgraded Flowserve from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Flowserve in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $44.27.
Several hedge funds have recently bought and sold shares of FLS. EdgePoint Investment Group Inc. grew its stake in shares of Flowserve by 22.2% in the second quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock valued at $292,855,000 after buying an additional 1,146,084 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in Flowserve by 78.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,339,145 shares of the industrial products company’s stock valued at $99,624,000 after purchasing an additional 1,028,684 shares in the last quarter. Principal Financial Group Inc. grew its stake in Flowserve by 171.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock valued at $68,660,000 after purchasing an additional 934,354 shares in the last quarter. Permian Investment Partners LP acquired a new stake in Flowserve during the 3rd quarter valued at approximately $28,535,000. Finally, Alyeska Investment Group L.P. grew its stake in Flowserve by 1,290.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 629,580 shares of the industrial products company’s stock valued at $26,814,000 after purchasing an additional 584,317 shares in the last quarter. Institutional investors and hedge funds own 99.39% of the company’s stock.
Flowserve (NYSE:FLS) traded down $0.42 on Wednesday, hitting $39.07. The company had a trading volume of 316,872 shares, compared to its average volume of 1,946,675. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $5,158.78, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.19 and a beta of 1.55. Flowserve has a fifty-two week low of $37.51 and a fifty-two week high of $52.10.
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Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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