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Flowserve (FLS) Soars 7.3%: Is Further Upside Left in the Stock?
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Flowserve (FLS - Free Report) shares ended the last trading session 7.3% higher at $52.14. 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 1.2% loss over the past four weeks.
Flowserve’s rally is largely driven by optimism over its strong momentum in the Flowserve Pump Division and Flow Control Division segments. Also, the acquisition of the intellectual property and in-process R&D related to cryogenic liquefied natural gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions Inc. 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 $0.66 per share in its upcoming report, which represents a year-over-year change of +32%. Revenues are expected to be $1.13 billion, up 3.5% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 is part of the Zacks Manufacturing - General Industrial industry. RBC Bearings (RBC - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $302.79. RBC has returned 1% in the past month.
For RBC Bearings, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.23. This represents a change of +2.8% from what the company reported a year ago. RBC Bearings currently has a Zacks Rank of #2 (Buy).
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Flowserve (FLS) Soars 7.3%: Is Further Upside Left in the Stock?
Flowserve (FLS - Free Report) shares ended the last trading session 7.3% higher at $52.14. 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 1.2% loss over the past four weeks.
Flowserve’s rally is largely driven by optimism over its strong momentum in the Flowserve Pump Division and Flow Control Division segments. Also, the acquisition of the intellectual property and in-process R&D related to cryogenic liquefied natural gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions Inc. 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 $0.66 per share in its upcoming report, which represents a year-over-year change of +32%. Revenues are expected to be $1.13 billion, up 3.5% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Flowserve is part of the Zacks Manufacturing - General Industrial industry. RBC Bearings (RBC - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $302.79. RBC has returned 1% in the past month.
For RBC Bearings, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.23. This represents a change of +2.8% from what the company reported a year ago. RBC Bearings currently has a Zacks Rank of #2 (Buy).