Flowserve (FLS) to Release Earnings on Monday

Flowserve (NYSE:FLS) will post its quarterly earnings results 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The business’s revenue for the quarter 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 Stock Down 0.5 %

NYSE:FLS opened at $54.51 on Monday. Flowserve has a 1-year low of $35.31 and a 1-year high of $55.90. The company has a 50-day moving average of $49.71 and a 200 day moving average of $48.65. The firm 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. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen upped 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. The Goldman Sachs Group upped 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. Mizuho upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Flowserve in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada increased their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.50.

About Flowserve

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.