Q4 2017 Earnings Forecast for Flowserve Corporation (FLS) Issued By KeyCorp

Flowserve Corporation (NYSE:FLS) – Equities researchers at KeyCorp reduced their Q4 2017 earnings per share (EPS) estimates for Flowserve Corporation in a research note issued on Thursday. KeyCorp analyst J. Picariello now anticipates that the industrial products company will post earnings of $0.61 per share for the quarter, down from their prior estimate of $0.62.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. The business had revenue of $877 million for the quarter, compared to analyst estimates of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. Flowserve Corporation’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. ILLEGAL ACTIVITY NOTICE: “Q4 2017 Earnings Forecast for Flowserve Corporation (FLS) Issued By KeyCorp” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://stocknewstimes.com/2017/08/12/q4-2017-earnings-forecast-for-flowserve-corporation-fls-issued-by-keycorp-updated.html.

FLS has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “sell” rating and set a $46.00 price target on shares of Flowserve Corporation in a research note on Tuesday, June 6th. Citigroup Inc. reiterated a “neutral” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Flowserve Corporation in a report on Monday, July 10th. Cowen and Company upgraded Flowserve Corporation from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $55.00 in a report on Wednesday, April 19th. Wolfe Research started coverage on Flowserve Corporation in a report on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price objective for the company. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $56.00 price objective on shares of Flowserve Corporation in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $49.10.

Flowserve Corporation (FLS) traded up 0.48% on Monday, reaching $41.79. The company had a trading volume of 702,469 shares. Flowserve Corporation has a 12 month low of $39.13 and a 12 month high of $52.10. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 46.43 and a beta of 1.46. The company’s 50 day moving average price is $45.84 and its 200-day moving average price is $47.88.

Several large investors have recently made changes to their positions in FLS. Huntington National Bank increased its stake in shares of Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after buying an additional 480 shares during the period. Creative Planning increased its stake in shares of Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after buying an additional 141 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Flowserve Corporation during the first quarter valued at about $116,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Flowserve Corporation during the first quarter valued at about $151,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Flowserve Corporation by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock valued at $157,000 after buying an additional 174 shares during the period.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 23rd were issued a $0.19 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.83%. Flowserve Corporation’s dividend payout ratio (DPR) is currently 98.70%.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Earnings History and Estimates for Flowserve Corporation (NYSE:FLS)

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