Flowserve (NYSE:FLS – Get Free Report) issued its quarterly earnings data on Monday. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11, RTT News reports. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. Flowserve updated its FY24 guidance to $2.50-2.70 EPS.
Flowserve Stock Up 1.0 %
Flowserve stock traded up $0.46 during mid-day trading on Monday, hitting $47.22. The company had a trading volume of 1,220,035 shares, compared to its average volume of 1,067,376. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. Flowserve has a 1 year low of $32.49 and a 1 year high of $48.31. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 1.33 and a beta of 1.46. The business has a fifty day moving average of $44.96 and a 200 day moving average of $41.30.
Flowserve Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a dividend of $0.21 per share. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.78%. Flowserve’s payout ratio is presently 59.57%.
Wall Street Analyst Weigh In
Flowserve Company Profile
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.
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