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Flowserve (FLS) Moves 7.7% Higher: Will This Strength Last?
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Flowserve Corporation (FLS - Free Report) shares ended the last trading session 7.7% higher at $83.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.3% gain over the past four weeks.
Flowserve’s rally is largely driven by optimism over its strong momentum in the Flowserve Pump Division segment, backed by strong demand for products and services in North America, the Middle East and Africa. Also, the acquisition of Greenray Turbine Solutions, which expanded its aftermarket capabilities for industrial gas turbines and strengthened its rotating equipment portfolio, also bodes well.
This company that makes pumps, valves and other parts for the oil and gas industries is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of +15.3%. Revenues are expected to be $1.19 billion, up 4.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Flowserve, the consensus EPS estimate for the quarter has been revised 2.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FLS going forward to see if this recent jump can turn into more strength down the road.
Flowserve belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, DNOW (DNOW - Free Report) , closed the last trading session 0.5% higher at $11.95. Over the past month, DNOW has returned 0.8%.
For DNOW, the consensus EPS estimate for the upcoming report has changed -10% over the past month to $0.05. This represents a change of -77.3% from what the company reported a year ago. DNOW currently has a Zacks Rank of #4 (Sell).
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Flowserve (FLS) Moves 7.7% Higher: Will This Strength Last?
Flowserve Corporation (FLS - Free Report) shares ended the last trading session 7.7% higher at $83.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.3% gain over the past four weeks.
Flowserve’s rally is largely driven by optimism over its strong momentum in the Flowserve Pump Division segment, backed by strong demand for products and services in North America, the Middle East and Africa. Also, the acquisition of Greenray Turbine Solutions, which expanded its aftermarket capabilities for industrial gas turbines and strengthened its rotating equipment portfolio, also bodes well.
This company that makes pumps, valves and other parts for the oil and gas industries is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of +15.3%. Revenues are expected to be $1.19 billion, up 4.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Flowserve, the consensus EPS estimate for the quarter has been revised 2.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FLS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Flowserve belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, DNOW (DNOW - Free Report) , closed the last trading session 0.5% higher at $11.95. Over the past month, DNOW has returned 0.8%.
For DNOW, the consensus EPS estimate for the upcoming report has changed -10% over the past month to $0.05. This represents a change of -77.3% from what the company reported a year ago. DNOW currently has a Zacks Rank of #4 (Sell).