Analysts Expect Flowserve Corp (FLS) Will Post Quarterly Sales of $1.03 Billion

Brokerages expect Flowserve Corp (NYSE:FLS) to post sales of $1.03 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Flowserve’s earnings. The lowest sales estimate is $1.00 billion and the highest is $1.05 billion. Flowserve reported sales of $1.07 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The firm is expected to report its next quarterly earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Flowserve will report full year sales of $1.03 billion for the current fiscal year, with estimates ranging from $3.63 billion to $3.67 billion. For the next year, analysts forecast that the business will report sales of $3.75 billion per share, with estimates ranging from $3.70 billion to $3.83 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Flowserve.

Flowserve (NYSE:FLS) last announced its earnings results 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 analysts’ expectations of $871.20 million. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS.

A number of equities analysts have recently commented on FLS shares. Royal Bank of Canada reaffirmed a “sell” rating and issued a $39.00 target price on shares of Flowserve in a report on Thursday, January 4th. Stifel Nicolaus cut shares of Flowserve from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Monday, December 11th. KeyCorp reaffirmed a “hold” rating on shares of Flowserve in a report on Thursday, September 28th. Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Goldman Sachs Group cut shares of Flowserve from a “neutral” rating to a “sell” rating and cut their target price for the company from $42.65 to $37.00 in a report on Thursday, December 7th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.58.

Flowserve (FLS) opened at $44.00 on Friday. The company has a market cap of $5,678.70, a price-to-earnings ratio of 34.11, a PEG ratio of 2.64 and a beta of 1.53. Flowserve has a 1-year low of $37.51 and a 1-year high of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be paid a $0.19 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.76 annualized dividend and a yield of 1.73%. Flowserve’s dividend payout ratio is currently 58.92%.

A number of institutional investors and hedge funds have recently made changes to their positions in FLS. EdgePoint Investment Group Inc. increased its stake in Flowserve by 22.2% in the 2nd 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 during the period. Pictet Asset Management Ltd. increased its stake in Flowserve by 78.5% in 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 buying an additional 1,028,684 shares during the period. Permian Investment Partners LP acquired a new position in Flowserve in the 3rd quarter valued at $28,535,000. Alyeska Investment Group L.P. increased its stake in Flowserve by 1,290.9% in 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 buying an additional 584,317 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Flowserve by 2,307.4% in the 2nd quarter. Janus Henderson Group PLC now owns 582,937 shares of the industrial products company’s stock valued at $27,066,000 after buying an additional 558,723 shares during the period.

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About Flowserve

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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Earnings History and Estimates for Flowserve (NYSE:FLS)

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