$880.71 Million in Sales Expected for Flowserve Corporation (FLS) This Quarter

Equities research analysts expect that Flowserve Corporation (NYSE:FLS) will report sales of $880.71 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Flowserve Corporation’s earnings. The highest sales estimate is $913.00 million and the lowest is $857.00 million. Flowserve Corporation reported sales of $943.33 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.6%. The firm is scheduled to issue its next earnings report on Thursday, October 26th.

On average, analysts expect that Flowserve Corporation will report full year sales of $880.71 million for the current fiscal year, with estimates ranging from $3.58 billion to $3.74 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.81 billion per share, with estimates ranging from $3.75 billion to $3.87 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Flowserve Corporation.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877 million for the quarter, compared to analyst estimates of $933.91 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year.

Several analysts have commented on FLS shares. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 target price (up previously from $53.00) on shares of Flowserve Corporation in a research report on Wednesday, May 3rd. BMO Capital Markets reiterated a “buy” rating and set a $56.00 target price on shares of Flowserve Corporation in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 target price on shares of Flowserve Corporation in a research report on Friday, July 14th. Cowen and Company reiterated a “buy” rating and set a $55.00 target price on shares of Flowserve Corporation in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Flowserve Corporation has an average rating of “Hold” and a consensus target price of $48.36.

Shares of Flowserve Corporation (NYSE FLS) traded down 1.42% during trading on Friday, hitting $37.58. The stock had a trading volume of 952,941 shares. Flowserve Corporation has a 52 week low of $37.51 and a 52 week high of $52.10. The stock’s 50 day moving average is $43.46 and its 200 day moving average is $46.92. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 46.98 and a beta of 1.46.

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Several institutional investors have recently made changes to their positions in FLS. Gateway Investment Advisers LLC raised its position in shares of Flowserve Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock valued at $491,000 after buying an additional 30 shares during the period. CIBC Asset Management Inc raised its position in shares of Flowserve Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 13,385 shares of the industrial products company’s stock valued at $621,000 after buying an additional 46 shares during the period. Federated Investors Inc. PA raised its position in shares of Flowserve Corporation by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after buying an additional 46 shares during the period. Advantus Capital Management Inc raised its position in shares of Flowserve Corporation by 0.5% in the first quarter. Advantus Capital Management Inc now owns 12,978 shares of the industrial products company’s stock valued at $628,000 after buying an additional 63 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Flowserve Corporation by 0.5% in the first quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock valued at $770,000 after buying an additional 83 shares during the period.

Flowserve Corporation Company Profile

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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Earnings History and Estimates for Flowserve Corporation (NYSE:FLS)

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