Flowserve (FLS) Set to Announce Earnings on Monday

Flowserve (NYSE:FLS - Get Free Report) is set to post its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect Flowserve to post earnings of $0.67 per share for the quarter. Flowserve has set its FY 2024 guidance at 2.600-2.750 EPS and its FY24 guidance at $2.60-2.75 EPS.Individual that wish to listen to the company's earnings conference call can do so using this link.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the business earned $0.52 EPS. The business's revenue was up 7.1% on a year-over-year basis. On average, analysts expect Flowserve to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Flowserve Stock Performance

Shares of FLS stock traded down $0.59 during mid-day trading on Monday, hitting $53.92. The stock had a trading volume of 801,459 shares, compared to its average volume of 1,071,950. Flowserve has a fifty-two week low of $35.31 and a fifty-two week high of $55.90. The firm has a market cap of $7.10 billion, a PE ratio of 30.84, a PEG ratio of 1.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. The company's 50-day simple moving average is $49.71 and its 200-day simple moving average is $48.65.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. Flowserve's dividend payout ratio is presently 47.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FLS shares. Bank of America reiterated a "buy" rating and issued a $60.00 price target on shares of Flowserve in a report on Tuesday, September 24th. Stifel Nicolaus increased their price target on shares of Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a report on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a "sector perform" rating in a report on Wednesday, July 31st. Finally, TD Cowen increased their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Flowserve currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.50.

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.