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.
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).