Flowserve (NYSE:FLS – Get Free Report) posted its earnings results on Monday. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10, RTT News reports. Flowserve had a return on equity of 16.85% and a net margin of 5.67%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. Flowserve’s revenue was up 7.1% on a year-over-year basis. Flowserve updated its FY 2024 guidance to 2.600-2.750 EPS and its FY24 guidance to $2.60-2.75 EPS.
Flowserve Trading Up 2.7 %
FLS traded up $1.32 on Wednesday, hitting $50.55. The company had a trading volume of 1,849,104 shares, compared to its average volume of 1,061,093. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The firm has a market cap of $6.65 billion, a P/E ratio of 28.68, a PEG ratio of 1.32 and a beta of 1.42. The company’s fifty day moving average price is $48.55 and its 200 day moving average price is $45.98. Flowserve has a 1 year low of $35.31 and a 1 year high of $52.09.
Flowserve Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. Flowserve’s dividend payout ratio is presently 47.46%.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Flowserve
Insider Activity at Flowserve
In related news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the transaction, the chief executive officer now owns 407,243 shares in the company, valued at approximately $20,354,005.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.
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.
See Also
- Five stocks we like better than Flowserve
- Buy P&G Now, Before It Sets A New All-Time High
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- Market Cap Calculator: How to Calculate Market Cap
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.