Q3 Earnings Forecast for Flowserve Issued By Zacks Research

Flowserve Co. (NYSE:FLS) – Investment analysts at Zacks Research raised their Q3 2024 earnings per share estimates for shares of Flowserve in a research note issued on Tuesday, October 15th. Zacks Research analyst R. Department now expects that the industrial products company will earn $0.64 per share for the quarter, up from their prior estimate of $0.63. The consensus estimate for Flowserve’s current full-year earnings is $2.76 per share. Zacks Research also issued estimates for Flowserve’s FY2024 earnings at $2.71 EPS, Q3 2025 earnings at $0.74 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $3.01 EPS and Q3 2026 earnings at $0.86 EPS.

Several other equities research analysts have also recently weighed in on FLS. Robert W. Baird increased their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

Flowserve Trading Down 0.2 %

Shares of FLS stock opened at $54.79 on Wednesday. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 1.27 and a beta of 1.39. The stock has a 50-day moving average of $49.34 and a 200-day moving average of $48.52. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. Flowserve has a 1-year low of $35.31 and a 1-year high of $55.90.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned $0.52 EPS. Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis.

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its stake in Flowserve by 2.8% in the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 259 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after purchasing an additional 305 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Flowserve by 7.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 426 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Flowserve by 0.3% in the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

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.