Q2 2023 EPS Estimates for Flowserve Co. Raised by Jefferies Financial Group (NYSE:FLS)

Posted by on Apr 24th, 2023

Flowserve Co. (NYSE:FLS – Get Rating) – Investment analysts at Jefferies Financial Group raised their Q2 2023 EPS estimates for shares of Flowserve in a research report issued to clients and investors on Thursday, April 20th. Jefferies Financial Group analyst S. Boroditsky now forecasts that the industrial products company will earn $0.36 per share for the quarter, up from their prior forecast of $0.35. The consensus estimate for Flowserve’s current full-year earnings is $1.68 per share. Jefferies Financial Group also issued estimates for Flowserve’s Q3 2023 earnings at $0.43 EPS.

Flowserve (NYSE:FLS – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.20. Flowserve had a net margin of 5.22% and a return on equity of 8.14%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis.

Several other research firms have also commented on FLS. Robert W. Baird boosted their price objective on shares of Flowserve from $32.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Mizuho upped their target price on shares of Flowserve from $33.00 to $37.00 and gave the company a “buy” rating in a report on Friday, January 13th. Stifel Nicolaus upped their target price on shares of Flowserve from $37.00 to $38.00 and gave the company a “buy” rating in a report on Friday, January 20th. Morgan Stanley upped their target price on shares of Flowserve from $31.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, February 23rd. Finally, TheStreet upgraded shares of Flowserve from a “c” rating to a “b” rating in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Hold” and a consensus target price of $35.56.

Flowserve Price Performance

Flowserve stock opened at $33.02 on Monday. Flowserve has a 52 week low of $23.89 and a 52 week high of $36.89. The company has a quick ratio of 1.33, a current ratio of 1.97 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $33.46 and its 200 day simple moving average is $31.65. The firm has a market capitalization of $4.33 billion, a PE ratio of 23.09, a P/E/G ratio of 0.92 and a beta of 1.61.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FLS. Harbour Investments Inc. lifted its holdings in shares of Flowserve by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 700 shares during the period. Gyon Technologies Capital Management LP acquired a new stake in Flowserve during the 4th quarter worth approximately $58,000. Captrust Financial Advisors increased its position in Flowserve by 17.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,073 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 303 shares in the last quarter. Macquarie Group Ltd. increased its position in Flowserve by 22.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,290 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 417 shares in the last quarter. Finally, CI Investments Inc. acquired a new stake in Flowserve during the 4th quarter worth approximately $94,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Stockholders of record on Friday, March 24th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.42%. Flowserve’s payout ratio is currently 55.94%.

Flowserve Company Profile

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Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through Flowserve Pumps Division and Flow Control Division segments. The Flowserve Pumps Division provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts, and related services.

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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