The Word on the Street: Analyst Recommendations for Flowserve after Its 1Q16 Results
Of the 20 analysts surveyed by Bloomberg, three gave Flowserve a “buy” rating, and 15 gave a “hold” rating, with just two “sell” ratings.
For 2016, analysts expect Flowserve (FLS) to report revenues of ~$3.9 billion, which would be ~14% lower than its $4.5 billion in 2015.
In 1Q16, Flowserve saw a decline in its cash balance, which balance stood at $310.3 million that quarter—7% lower than the $333.7 million it had in 1Q15.
In 1Q16, Flowserve (FLS) was just able to keep its gross margins at 33.3%, which is 170 basis points lower than its 35.0% in 1Q15.
In 1Q16, Flowserve’s Engineered Product division saw its revenues decrease by 2.1% to $473.8 million, as compared to $484.2 million in 1Q15.
Flowserve Corporation’s (FLS) 1Q16 revenues stood $947.2 million, nearly 7.6% higher than the market consensus of $880 million.
Decent 1Q16 revenues sent Flowserve’s shares to a high of $49.52 in early trading. The stock closed at $48.81, 2.9% higher than its opening price of $47.42.
The API (American Petroleum Institute) released its weekly crude oil inventory report on May 3.
On May 2, the API (American Petroleum Institute) released its weekly crude oil inventory report.
In the previous two parts of this series, we covered bullish drivers for crude oil prices. Now let’s look at some key bearish drivers for crude oil prices in 2016.
In this part of the series, we’ll look at some more bullish drivers for crude oil prices over the long term.
Crude oil price catalysts Let’s take a look at some key bullish drivers for crude oil prices. Bullish drivers for crude oil prices US crude oil production fell by 15,000 bpd…
June WTI (West Texas Intermediate) crude oil futures contracts fell 2.5% and closed at $43.65 per barrel yesterday.
Of the 30 analyst recommendations for Symantec stock, there were three “sell” recommendations. More than three-fourths of the analysts recommended a “hold.”
Symantec was trading at a forward EV-to-EBITDA multiple of ~8.28x on May 2, 2016. This metric was lower than Microsoft’s and IBM’s at ~9.31x and ~8.37x, respectively.
Symantec’s Consumer Security offerings are primarily focused on PC security solutions. PC shipments are considered to be the driving factor behind consumer security software sales.
In late March 2016, Symantec stock rose to $18.85, a 52-week high. However, since then, the stock has fallen 11.6%.
Symantec said that although its DLP offerings increased in the low teens, revenue fell 5%. Endpoint protection and DLP are the fastest-growing subsegments of the Enterprise Security business.
Symantec announced in its fiscal 4Q16 guidance call that it is slashing its fiscal 1Q16 earnings guidance. Symantec is scheduled to announce its fiscal 4Q16 results on May 22, 2016.
Symantec (SYMC) has announced that the company is searching for a new CEO after its current CEO Michael Brown stepped down. Brown will continue in his position until a new CEO comes on board.