Brokers Issue Forecasts for Flowserve’s Q2 2018 Earnings (FLS)

Flowserve (NYSE:FLS) – Stock analysts at Seaport Global Securities boosted their Q2 2018 EPS estimates for Flowserve in a research report issued on Monday, May 14th. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $0.35 for the quarter, up from their previous forecast of $0.31. Seaport Global Securities also issued estimates for Flowserve’s Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $1.64 EPS.

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Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, May 10th. The industrial products company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $919.90 million during the quarter, compared to analyst estimates of $881.72 million. Flowserve had a negative net margin of 0.03% and a positive return on equity of 10.41%. Flowserve’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Flowserve from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 18th. Stifel Nicolaus lowered their price objective on shares of Flowserve from $44.00 to $43.00 and set a “hold” rating for the company in a research note on Monday. DA Davidson set a $42.00 price objective on shares of Flowserve and gave the company a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada upgraded shares of Flowserve from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $43.46.

NYSE:FLS opened at $44.10 on Thursday. The firm has a market capitalization of $5.69 billion, a PE ratio of 32.43, a P/E/G ratio of 1.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.29 and a quick ratio of 1.62. Flowserve has a twelve month low of $42.85 and a twelve month high of $43.60.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. University of Texas Investment Managment Co. acquired a new stake in Flowserve in the 4th quarter valued at $107,000. Assetmark Inc. grew its position in Flowserve by 26,030.0% in the 4th quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,603 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Flowserve in the 4th quarter valued at $118,000. Tower Research Capital LLC TRC acquired a new stake in Flowserve in the 4th quarter valued at $122,000. Finally, Cigna Investments Inc. New purchased a new position in Flowserve during the 1st quarter worth $205,000.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

Earnings History and Estimates for Flowserve (NYSE:FLS)