Flowserve (NYSE:FLS) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Flowserve (NYSE:FLS) announced its quarterly earnings data on Sunday. The industrial products company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09, MarketWatch Earnings reports. Flowserve had a return on equity of 14.41% and a net margin of 3.38%. The business had revenue of $857.31 million during the quarter, compared to the consensus estimate of $813.29 million. During the same period in the prior year, the company earned $0.21 EPS. Flowserve’s revenue for the quarter was down 4.1% on a year-over-year basis.

FLS stock traded up $1.46 during midday trading on Tuesday, hitting $41.92. The stock had a trading volume of 1,253,499 shares, compared to its average volume of 1,233,316. The company has a current ratio of 2.57, a quick ratio of 1.91 and a debt-to-equity ratio of 1.00. The business has a fifty day moving average price of $39.73 and a two-hundred day moving average price of $36.72. Flowserve has a 1-year low of $21.05 and a 1-year high of $42.24. The firm has a market cap of $5.46 billion, a P/E ratio of 42.34, a price-to-earnings-growth ratio of 2.74 and a beta of 1.75.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Friday, March 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 25th. Flowserve’s dividend payout ratio is currently 36.36%.

In related news, insider Kirk Wilson sold 10,000 shares of the company’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $41.72, for a total transaction of $417,200.00. Following the sale, the insider now owns 39,879 shares in the company, valued at approximately $1,663,751.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.

A number of research firms have recently weighed in on FLS. Morgan Stanley raised their price target on shares of Flowserve from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 3rd. Credit Suisse Group boosted their target price on shares of Flowserve from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 3rd. Oppenheimer reiterated a “hold” rating on shares of Flowserve in a research note on Wednesday, January 27th. Finally, Citigroup boosted their price objective on Flowserve from $42.00 to $44.00 in a research report on Thursday, February 25th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Flowserve presently has an average rating of “Hold” and a consensus price target of $36.86.

Flowserve Company Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, the Middle East, Africa, the Asia Pacific, and Europe. It operates in two segments: Flowserve Pump Division (FPD) and Flow Control Division (FCD).

Further Reading: Price-Sales Ratio

Earnings History for Flowserve (NYSE:FLS)

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