Flowserve (NYSE:FLS – Get Free Report) released its quarterly earnings results on Monday. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11, RTT News reports. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Flowserve updated its FY24 guidance to $2.50-2.70 EPS.
Flowserve Stock Performance
Shares of NYSE:FLS traded up $0.46 during midday trading on Monday, reaching $47.22. 1,220,035 shares of the company’s stock traded hands, compared to its average volume of 1,066,760. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 1.33 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.88. Flowserve has a one year low of $32.49 and a one year high of $48.31. The stock has a 50 day moving average of $44.96 and a 200 day moving average of $41.30.
Flowserve Increases Dividend
The firm also recently declared 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. This is an increase 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%. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio is presently 59.57%.
Wall Street Analysts Forecast Growth
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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.
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