Flowserve (NYSE:FLS) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Flowserve (NYSE:FLS) released its earnings results on Thursday. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.24, MarketWatch Earnings reports. Flowserve had a return on equity of 14.82% and a net margin of 3.77%. The company had revenue of $924.97 million during the quarter, compared to analyst estimates of $890.88 million.

Shares of NYSE:FLS traded down $2.07 on Friday, reaching $27.87. 3,106,033 shares of the company’s stock were exchanged, compared to its average volume of 855,258. The company has a current ratio of 2.19, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.78 and a beta of 1.81. The company has a fifty day moving average of $28.59 and a 200-day moving average of $32.24. Flowserve has a twelve month low of $18.98 and a twelve month high of $51.76.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Friday, June 19th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. Flowserve’s payout ratio is presently 36.36%.

FLS has been the subject of several recent research reports. Credit Suisse Group cut their price objective on Flowserve from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Cowen downgraded Flowserve from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a research report on Monday, July 6th. Oppenheimer reissued a “hold” rating on shares of Flowserve in a research report on Thursday. Jefferies Financial Group began coverage on Flowserve in a research report on Friday, April 17th. They set a “hold” rating and a $25.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on shares of Flowserve from $24.00 to $22.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.90.

About Flowserve

Flowserve Corporation designs, develops, 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).

See Also: Price to Earnings Ratio (PE) Basics

Earnings History for Flowserve (NYSE:FLS)

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