Wall Street brokerages expect that Flowserve Corp (NYSE:FLS) will report $1.01 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Flowserve’s earnings. The lowest sales estimate is $996.00 million and the highest is $1.03 billion. Flowserve reported sales of $973.13 million during the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The business is expected to announce its next earnings report on Wednesday, August 14th.

On average, analysts expect that Flowserve will report full year sales of $3.99 billion for the current fiscal year, with estimates ranging from $3.95 billion to $4.00 billion. For the next financial year, analysts forecast that the business will report sales of $4.16 billion, with estimates ranging from $4.11 billion to $4.24 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Flowserve.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $890.05 million during the quarter, compared to the consensus estimate of $943.79 million. Flowserve had a return on equity of 13.46% and a net margin of 4.25%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS.

Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded Flowserve from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, TheStreet raised Flowserve from a “c” rating to a “b-” rating in a report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Flowserve currently has an average rating of “Hold” and a consensus price target of $48.85.

In other Flowserve news, insider John Lenander sold 6,818 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $44.75, for a total transaction of $305,105.50. Following the completion of the sale, the insider now owns 22,130 shares of the company’s stock, valued at approximately $990,317.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Standard Life Aberdeen plc increased its position in shares of Flowserve by 19.8% in the third quarter. Standard Life Aberdeen plc now owns 36,066 shares of the industrial products company’s stock worth $1,973,000 after purchasing an additional 5,972 shares during the period. Enlightenment Research LLC bought a new position in shares of Flowserve in the fourth quarter worth $95,000. Geode Capital Management LLC increased its position in shares of Flowserve by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 1,795,400 shares of the industrial products company’s stock worth $68,149,000 after purchasing an additional 134,350 shares during the period. Prudential Financial Inc. increased its position in shares of Flowserve by 0.3% in the fourth quarter. Prudential Financial Inc. now owns 142,014 shares of the industrial products company’s stock worth $5,399,000 after purchasing an additional 411 shares during the period. Finally, First Bank & Trust grew its position in Flowserve by 13.6% in the fourth quarter. First Bank & Trust now owns 6,551 shares of the industrial products company’s stock valued at $249,000 after acquiring an additional 784 shares during the last quarter.

Shares of NYSE FLS traded down $2.10 during trading hours on Friday, hitting $47.65. The company had a trading volume of 83,310 shares, compared to its average volume of 1,023,500. The company has a market cap of $6.43 billion, a PE ratio of 27.23, a PEG ratio of 1.44 and a beta of 1.66. The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86.

Flowserve Company Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Earnings History and Estimates for Flowserve (NYSE:FLS)

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