Flowserve (NYSE:FLS – Get Free Report) posted its earnings results on Monday. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05), Briefing.com reports. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Flowserve updated its FY24 guidance to $2.60-2.75 EPS and its FY 2024 guidance to 2.600-2.750 EPS.
Flowserve Trading Down 0.7 %
Flowserve stock traded down $0.39 during midday trading on Wednesday, hitting $53.75. 1,805,926 shares of the stock were exchanged, compared to its average volume of 1,089,616. The company has a fifty day simple moving average of $50.60 and a two-hundred day simple moving average of $48.94. Flowserve has a 52 week low of $35.80 and a 52 week high of $55.90. The stock has a market capitalization of $7.08 billion, a PE ratio of 30.56, a P/E/G ratio of 1.27 and a beta of 1.39. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60.
Flowserve Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio is 47.46%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on FLS
About Flowserve
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.
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