Flowserve (NYSE:FLS – Get Free Report) issued its earnings results on Monday. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11, RTT News reports. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior 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 Stock Performance
Shares of NYSE FLS opened at $47.25 on Thursday. The firm has a fifty day moving average price of $45.24 and a 200-day moving average price of $41.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.27. The stock has a market cap of $6.22 billion, a PE ratio of 26.70, a price-to-earnings-growth 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 company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.21 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.78%. Flowserve’s dividend payout ratio is 47.46%.
Wall Street Analysts Forecast Growth
Read Our Latest Research 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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