Oppenheimer Holdings, Inc. Reiterates “Hold” Rating for Flowserve Corporation (FLS)

Flowserve Corporation (NYSE:FLS)‘s stock had its “hold” rating reaffirmed by investment analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Monday, July 31st. Oppenheimer Holdings also issued estimates for Flowserve Corporation’s Q3 2017 earnings at $0.34 EPS, Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $1.40 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $2.35 EPS.

Several other research analysts have also recently issued reports on the stock. BidaskClub cut shares of Flowserve Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. UBS AG reaffirmed a “neutral” rating and issued a $46.00 price objective (down previously from $50.00) on shares of Flowserve Corporation in a report on Monday, July 31st. Wolfe Research raised shares of Flowserve Corporation from an “underperform” rating to a “market perform” rating and set a $38.00 price objective for the company in a report on Monday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $47.00 price objective (down previously from $56.00) on shares of Flowserve Corporation in a report on Friday, July 28th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve Corporation in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Flowserve Corporation presently has an average rating of “Hold” and a consensus price target of $48.36.

Flowserve Corporation (NYSE:FLS) opened at 38.12 on Monday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 47.65 and a beta of 1.46. The firm has a 50-day moving average price of $43.46 and a 200 day moving average price of $46.92. Flowserve Corporation has a one year low of $38.11 and a one year high of $52.10.

Flowserve Corporation (NYSE:FLS) last issued its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The business had revenue of $877 million for the quarter, compared to analysts’ expectations of $933.91 million. During the same period last year, the business earned $0.57 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts expect that Flowserve Corporation will post $1.43 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the stock. Huntington National Bank raised its position in shares of Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after buying an additional 480 shares in the last quarter. Creative Planning raised its position in shares of Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after buying an additional 141 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Flowserve Corporation during the first quarter valued at approximately $116,000. Federated Investors Inc. PA raised its position in shares of Flowserve Corporation by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after buying an additional 46 shares in the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of Flowserve Corporation by 41.2% in the second quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after buying an additional 756 shares in the last quarter.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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