Flowserve (FLS) to Release Earnings on Monday

Flowserve (NYSE:FLS) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, October 28th. Analysts expect the company to announce 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.Parties interested in registering for the company’s conference call can do so using this link.

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

Flowserve Price Performance

Shares of NYSE:FLS opened at $54.51 on Monday. Flowserve has a twelve month low of $35.31 and a twelve month high of $55.90. The company’s 50 day moving average is $49.71 and its 200 day moving average is $48.65. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The company has a market cap of $7.18 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.54%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. TD Cowen raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a $60.00 price objective on shares of Flowserve in a research note on Tuesday, September 24th. The Goldman Sachs Group raised their price objective on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. Finally, Mizuho lifted their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Flowserve presently has an average 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.