Zacks Research Equities Analysts Raise Earnings Estimates for Flowserve Co. (NYSE:FLS)

Flowserve Co. (NYSE:FLSFree Report) – Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of Flowserve in a research note issued to investors on Tuesday, February 6th. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings per share of $0.67 for the quarter, up from their previous estimate of $0.66. The consensus estimate for Flowserve’s current full-year earnings is $2.03 per share. Zacks Research also issued estimates for Flowserve’s Q3 2024 earnings at $0.64 EPS, FY2024 earnings at $2.53 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $2.90 EPS.

Flowserve Price Performance

Shares of NYSE:FLS opened at $41.10 on Wednesday. Flowserve has a 1-year low of $29.99 and a 1-year high of $41.99. The firm has a market capitalization of $5.39 billion, a PE ratio of 22.09, a PEG ratio of 0.78 and a beta of 1.45. The business’s 50 day moving average is $40.16 and its 200-day moving average is $39.00. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.66.

Institutional Trading of Flowserve

Several institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new position in shares of Flowserve during the 1st quarter worth approximately $208,000. Raymond James & Associates lifted its position in shares of Flowserve by 70.7% during the 1st quarter. Raymond James & Associates now owns 113,597 shares of the industrial products company’s stock worth $4,078,000 after buying an additional 47,032 shares during the period. American Century Companies Inc. lifted its position in shares of Flowserve by 15.1% during the 1st quarter. American Century Companies Inc. now owns 14,896 shares of the industrial products company’s stock worth $535,000 after buying an additional 1,950 shares during the period. US Bancorp DE lifted its position in shares of Flowserve by 11.0% during the 1st quarter. US Bancorp DE now owns 8,139 shares of the industrial products company’s stock worth $292,000 after buying an additional 807 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Flowserve by 3.2% during the 1st quarter. Bank of Montreal Can now owns 159,979 shares of the industrial products company’s stock worth $5,667,000 after buying an additional 4,900 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, December 28th. Flowserve’s payout ratio is presently 43.01%.

Flowserve Company Profile

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Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, the Middle East, Africa, Asia Pacific, and Europe. 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, 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.

See Also

Earnings History and Estimates for Flowserve (NYSE:FLS)

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