Flowserve Corporation (FLS) to Post FY2017 Earnings of $1.38 Per Share, KeyCorp Forecasts
Flowserve Corporation (NYSE:FLS) – Equities research analysts at KeyCorp decreased their FY2017 EPS estimates for shares of Flowserve Corporation in a research note issued on Wednesday. KeyCorp analyst J. Picariello now forecasts that the industrial products company will post earnings per share of $1.38 for the year, down from their prior forecast of $1.40. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Flowserve Corporation’s Q4 2017 earnings at $0.53 EPS and FY2018 earnings at $1.85 EPS.
A number of other brokerages have also weighed in on FLS. Wolfe Research began coverage on shares of Flowserve Corporation in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price target on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve Corporation in a research note on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price target on shares of Flowserve Corporation in a research note on Friday, July 28th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $51.00 price target (down from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research lowered shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Flowserve Corporation currently has an average rating of “Hold” and a consensus target price of $44.27.
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Flowserve Corporation (NYSE FLS) opened at $40.01 on Monday. The firm has a market cap of $5,127.42, a PE ratio of 25.16, a P/E/G ratio of 3.21 and a beta of 1.55. Flowserve Corporation has a 12 month low of $37.51 and a 12 month high of $52.10. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.85.
Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.03. The firm had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. Flowserve Corporation’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in FLS. OppenheimerFunds Inc. increased its holdings in shares of Flowserve Corporation by 10.3% during the 1st quarter. OppenheimerFunds Inc. now owns 11,063 shares of the industrial products company’s stock worth $536,000 after buying an additional 1,034 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Flowserve Corporation by 5.1% during the 1st quarter. Teachers Advisors LLC now owns 158,109 shares of the industrial products company’s stock worth $7,656,000 after buying an additional 7,720 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Flowserve Corporation by 6.0% during the 1st quarter. Thrivent Financial For Lutherans now owns 4,800 shares of the industrial products company’s stock worth $232,000 after buying an additional 270 shares during the last quarter. Morgan Stanley increased its holdings in shares of Flowserve Corporation by 45.0% during the 1st quarter. Morgan Stanley now owns 214,725 shares of the industrial products company’s stock worth $10,397,000 after buying an additional 66,632 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Flowserve Corporation during the 1st quarter worth approximately $247,000.
About Flowserve Corporation
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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