Flowserve (NYSE:FLS – Get Free Report) announced its quarterly earnings data on Monday. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11, RTT News reports. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. Flowserve updated its FY24 guidance to $2.50-2.70 EPS and its FY 2024 guidance to 2.500-2.700 EPS.
Flowserve Price Performance
Shares of NYSE FLS opened at $47.25 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $45.24 and its 200-day moving average price is $41.47. The firm has a market capitalization of $6.22 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.33 and a beta of 1.42. Flowserve has a 1-year low of $32.49 and a 1-year high of $49.35.
Flowserve Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is currently 47.46%.
Analyst Upgrades and Downgrades
Check Out 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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