Flowserve (FLS) Scheduled to Post Earnings on Monday

Flowserve (NYSE:FLS) is scheduled to release its earnings data after the market closes on Monday, October 28th. Analysts expect Flowserve to post earnings of $0.67 per share for the quarter. Flowserve has set its FY 2024 guidance at 2.600-2.750 EPS and its FY24 guidance at $2.60-2.75 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. On average, analysts expect Flowserve to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Flowserve Stock Up 0.3 %

Flowserve stock opened at $52.66 on Friday. The stock has a market capitalization of $6.93 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. Flowserve has a 12 month low of $35.52 and a 12 month high of $55.90. The business has a 50 day simple moving average of $50.36 and a 200-day simple moving average of $48.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is presently 47.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Jefferies Financial Group assumed coverage on Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. The Goldman Sachs Group lifted their price target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. TD Cowen lifted their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Mizuho boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment 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 and in the oil and gas production and process markets.