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Flowserve Corp.

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Flowserve’s shares have underperformed for the past six months, compared to the Zacks-categorized Machinery-General Industrial industry’s average return over the same time frame. Also, the company has a choppy track record, having missed estimates thrice in the trailing four quarters. Flowserve is also seeing bearish analyst estimate revision activity. Of late, the company’s results have been hit by capital spending deferrals, reduced activity in its key markets. Further, precipitous top-line decline owing to macroeconomic volatility as well as foreign currency headwinds continue to impede growth. In addition, escalating restructuring charges are also proving to be a drag on the near-term financials. However, the company’s internal actions like efforts to increase manufacturing capabilities and labor hours have started to be fruitful, and are likely to propel growth over the long run.


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