Flowserve Corporation (NYSE: FLS) stock fell -1.13% on Thursday to $33.30 against a previous-day closing price of $33.68. With 1.23 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.9 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $33.86 whereas the lowest price it dropped to was $33.16. The 52-week range on FLS shows that it touched its highest point at $37.59 and its lowest point at $23.89 during that stretch. It currently has a 1-year price target of $33.45. With its current market cap of 4.26 billion, FLS has annualized dividend of $0.80 while the current yield stands at 2.40%. Beta for the stock currently stands at 1.62.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FLS was up-trending over the past week, with a rise of 2.24%, but this was up by 10.70% over a month. Three-month performance surged to 21.18% while six-month performance rose 6.25%. The stock gained 3.16% in the past year, while it has gained 8.54% so far this year. A look at the trailing 12-month EPS for FLS yields 0.64 with Next year EPS estimates of 1.68. For the next quarter, that number is 0.44. This implies an EPS growth rate of -3.30% for this year and 83.70% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.00%.
Float and Shares Shorts:
At present, 130.70 million FLS shares are outstanding with a float of 130.24 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.42 million, which was 3.38% higher than short shares on Sep 14, 2022. In addition to Mr. Robert Scott Rowe as the firm’s Pres, CEO & Director, Ms. Amy B. Schwetz serves as its Sr. VP & CFO.
Through their ownership of 108.77% of FLS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 72.82% of FLS, in contrast to 31.44% held by mutual funds. Shares owned by individuals account for 2.50%. As the largest shareholder in FLS with 9.67% of the stake, The Vanguard Group, Inc. holds 12,643,410 shares worth 12,643,410. A second-largest stockholder of FLS, First Eagle Investment Management, holds 10,729,606 shares, controlling over 8.21% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in FLS, holding 10,649,653 shares or 8.15% stake. With a 6.04% stake in FLS, the First Eagle Global Fund is the largest stakeholder. A total of 7,892,216 shares are owned by the mutual fund manager. The Caisse de Dépôt & Placement du Qu, which owns about 3.45% of FLS stock, is the second-largest Mutual Fund holder. It holds 4,509,423 shares valued at 138.35 million. Nordea 1 – Global Climate & Envir holds 3.43% of the stake in FLS, owning 4,484,533 shares worth 137.59 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FLS since 13 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FLS analysts setting a high price target of $42.00 and a low target of $24.00, the average target price over the next 12 months is $33.45. Based on these targets, FLS could surge 26.13% to reach the target high and fall by -27.93% to reach the target low. Reaching the average price target will result in a growth of 0.45% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FLS will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of $0.98 being high and $0.87 being low. For FLS, this leads to a yearly average estimate of $0.91. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Flowserve Corporation surprised analysts by -$0.15 when it reported $0.09 EPS against a consensus estimate of $0.24. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $0.49 and the low estimate is $0.40. The average estimate for the next quarter is thus $0.44.
Summary of Insider Activity:
Insiders traded FLS stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 3,229 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 175,056 while 61,310 shares were sold.