Flowserve (NYSE:FLS) Issues FY 2021 Earnings Guidance

Flowserve (NYSE:FLS) updated its FY 2021 earnings guidance on Monday. The company provided earnings per share guidance of 1.400-1.600 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.520. The company issued revenue guidance of $3.54 billion-$3.62 billion, compared to the consensus revenue estimate of $3.56 billion.

NYSE FLS traded up $0.23 on Monday, reaching $43.44. The stock had a trading volume of 6,314 shares, compared to its average volume of 1,193,567. Flowserve has a 1-year low of $22.27 and a 1-year high of $43.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.57 and a quick ratio of 1.91. The company has a market cap of $5.66 billion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 2.74 and a beta of 1.75. The firm has a fifty day moving average of $40.22 and a two-hundred day moving average of $37.39.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Sunday, May 2nd. The industrial products company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. Flowserve had a net margin of 3.38% and a return on equity of 14.41%. The business had revenue of $857.31 million for the quarter, compared to analyst estimates of $813.29 million. During the same period last year, the firm earned $0.21 earnings per share. Flowserve’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts predict that Flowserve will post 1.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Friday, March 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. Flowserve’s dividend payout ratio is presently 36.36%.

A number of equities research analysts recently issued reports on FLS shares. Oppenheimer reissued a hold rating on shares of Flowserve in a research report on Wednesday, January 27th. Credit Suisse Group increased their target price on Flowserve from $39.00 to $43.00 and gave the stock a neutral rating in a report on Tuesday, May 11th. Morgan Stanley boosted their price target on Flowserve from $40.00 to $46.00 and gave the company an equal weight rating in a research note on Tuesday, May 11th. Finally, Citigroup upped their price objective on shares of Flowserve from $42.00 to $44.00 in a research report on Thursday, February 25th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $38.29.

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $41.72, for a total value of $417,200.00. Following the transaction, the insider now owns 39,879 shares in the company, valued at $1,663,751.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.

About Flowserve

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, the Middle East, Africa, the Asia Pacific, and Europe. It operates in two segments: Flowserve Pump Division (FPD) and Flow Control Division (FCD).

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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