Flowserve Co. (NYSE:FLS) Expected to Earn Q3 2021 Earnings of $0.37 Per Share

Flowserve Co. (NYSE:FLS) – Oppenheimer reduced their Q3 2021 earnings per share (EPS) estimates for Flowserve in a note issued to investors on Wednesday, October 13th. Oppenheimer analyst B. Blair now expects that the industrial products company will post earnings of $0.37 per share for the quarter, down from their prior forecast of $0.38. Oppenheimer also issued estimates for Flowserve’s FY2022 earnings at $2.02 EPS and FY2023 earnings at $2.25 EPS.

FLS has been the subject of several other research reports. Cowen raised shares of Flowserve from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $48.00 in a research note on Wednesday, July 7th. Royal Bank of Canada reduced their price objective on shares of Flowserve from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Monday, August 9th. Morgan Stanley reduced their price objective on shares of Flowserve from $46.00 to $42.00 and set an “equal weight” rating for the company in a research note on Thursday, October 7th. Zacks Investment Research lowered shares of Flowserve from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research note on Tuesday, June 22nd. Finally, Credit Suisse Group raised shares of Flowserve from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $43.00 to $48.00 in a research note on Thursday, July 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Flowserve presently has an average rating of “Hold” and a consensus price target of $45.00.

FLS stock opened at $34.32 on Thursday. The company has a current ratio of 2.28, a quick ratio of 1.64 and a debt-to-equity ratio of 0.74. Flowserve has a 1 year low of $27.58 and a 1 year high of $44.39. The company has a fifty day simple moving average of $37.17 and a 200 day simple moving average of $39.85. The firm has a market cap of $4.47 billion, a PE ratio of 26.81, a PEG ratio of 1.81 and a beta of 1.77.

Flowserve (NYSE:FLS) last issued its earnings results on Thursday, August 5th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Flowserve had a net margin of 4.57% and a return on equity of 12.59%. The company had revenue of $898.18 million for the quarter, compared to analyst estimates of $891.43 million.

The company also recently announced a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, September 24th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 23rd. This represents a $0.80 annualized dividend and a yield of 2.33%. Flowserve’s dividend payout ratio (DPR) is presently 45.98%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Flowserve by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,316,545 shares of the industrial products company’s stock worth $496,603,000 after acquiring an additional 197,806 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Flowserve by 0.3% during the 1st quarter. First Eagle Investment Management LLC now owns 11,177,799 shares of the industrial products company’s stock worth $433,810,000 after purchasing an additional 37,796 shares during the period. FMR LLC increased its holdings in shares of Flowserve by 10.2% during the 2nd quarter. FMR LLC now owns 5,427,674 shares of the industrial products company’s stock worth $218,843,000 after purchasing an additional 500,256 shares during the period. State Street Corp increased its holdings in shares of Flowserve by 8.8% during the 2nd quarter. State Street Corp now owns 3,322,236 shares of the industrial products company’s stock worth $134,647,000 after purchasing an additional 269,830 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Flowserve by 6.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,194,366 shares of the industrial products company’s stock worth $88,477,000 after purchasing an additional 132,124 shares during the period. Hedge funds and other institutional investors own 94.67% of the company’s stock.

About Flowserve

Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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