Equities Analysts Set Expectations for Flowserve Co.’s Q1 2023 Earnings (NYSE:FLS)

Posted by on Apr 28th, 2023

Flowserve Co. (NYSE:FLS – Get Rating) – Research analysts at Zacks Research issued their Q1 2023 earnings estimates for shares of Flowserve in a report released on Tuesday, April 25th. Zacks Research analyst E. Haque anticipates that the industrial products company will post earnings of $0.26 per share for the quarter. The consensus estimate for Flowserve’s current full-year earnings is $1.69 per share. Zacks Research also issued estimates for Flowserve’s Q2 2023 earnings at $0.37 EPS, Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.60 EPS, FY2023 earnings at $1.65 EPS, Q1 2024 earnings at $0.38 EPS, Q2 2024 earnings at $0.45 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.69 EPS, FY2024 earnings at $2.02 EPS, Q1 2025 earnings at $0.47 EPS and FY2025 earnings at $2.31 EPS.

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

Other analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Flowserve from $31.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. StockNews.com began coverage on shares of Flowserve in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. TheStreet raised shares of Flowserve from a “c” rating to a “b” rating in a research report on Tuesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 target price on shares of Flowserve in a research report on Thursday, February 23rd. Finally, Robert W. Baird upped their target price 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.56.

Flowserve Stock Up 3.3 %

Shares of Flowserve stock opened at $33.19 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.33 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $33.19 and its two-hundred day simple moving average is $31.76. The company has a market cap of $4.35 billion, a P/E ratio of 23.21, a PEG ratio of 0.90 and a beta of 1.61. Flowserve has a 12-month low of $23.89 and a 12-month high of $36.89.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Stockholders of record on Friday, March 24th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, March 23rd. Flowserve’s dividend payout ratio (DPR) is presently 55.94%.

Hedge Funds Weigh In On Flowserve

Several institutional investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in shares of Flowserve by 2.7% in the 1st quarter. Arizona State Retirement System now owns 37,869 shares of the industrial products company’s stock worth $1,288,000 after purchasing an additional 991 shares during the period. Benedetti & Gucer Inc. bought a new position in shares of Flowserve in the 1st quarter worth approximately $241,000. Ridgewood Investments LLC bought a new position in shares of Flowserve in the 1st quarter worth approximately $143,000. Verdence Capital Advisors LLC lifted its stake in shares of Flowserve by 14.0% in the 1st quarter. Verdence Capital Advisors LLC now owns 10,093 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 1,240 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Flowserve in the 1st quarter worth approximately $94,000. Institutional investors own 99.88% of the company’s stock.

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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