Flowserve에 대한 매도 수량은 투자자에게 Flowserve의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

Flowserve (NYSE:FLS) 주식, 공매도 수량 보고

Flowserve

Flowserve Corp is a manufacturer and aftermarket service provider of comprehensive flow control systems. It develops precision-engineered flow control equipment to monitor movement and protect customers' materials and processes. It offers an extensive range of pumps, valves, seals, and services for several industries, including oil and gas, chemical, power generation, and water management. In addition, Flowserve has a network of Quick Response Centers to provide aftermarket equipment services. The aftermarket services help customers with installation, diagnostics, repair, and retrofitting. Sales are roughly split across many regions, with North America and Europe contributing the majority of total revenue.

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화요일 아침(현지 시간 기준) 미국 주식 선물이 하락세로 거래되면서 오늘 투자자의 관심을 끌 수 있는 일부 주식은 다음과 같다: 월스트리트는 마이크로소프트(NASDAQ:MSFT)가 시장 마감 후 분기 이익을 주당 2.93달러, 매출 643억 6천만 달러로 보고할 것으로 예상하고 있다. 마이크로소프트의 주가는 시간외 거래에서 0.4% 하락한 425.00달러를 기록했다.

화요일 주목해야 할 주식: 프록터 앤드 갬블, 마이크로소프트 그리고 3종목

Flowserve Corp

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Deere &amp; Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/de#NYSE">DE</a>) has recalled about 147,900 compact utility tractors in the United States due to a potential brake failure risk, per reports. This voluntary recall will ensure customer safety.
The recall applies to models 1023E, 1025R and 2025R sold between November 2017 and July 2024. In Canada, the company has recalled another 16,800 of the compact utility tractor models.
The front bell crank in the brake linkage of the recalled tractors may break, endangering users in the event of a crash, according to the Consumer Product Safety Commission (&quot;CPSC&quot;). There have been four reports of brake linkage failure in the United States so far, with one hospitalization, two impact injuries and minor damages to the tractors.
<h2>Deere&#39;s Commitment to Safety</h2>
The company is proactively addressing the issue in collaboration with the U.S. CPSC.
Deere instructed the impacted customers not to operate their tractors until they receive a free repair from an authorized Deere dealer. Customers have easy access to repair services due to over 2,000 dealerships in the United States and Canada. If the consumer is unable to move the tractor to a dealer&#39;s site, the company will arrange to repair the unit at the consumer&#39;s home.
<h2>DE&#39;s Topline Dips Y/Y in Q3</h2>
Deere reported third-quarter fiscal 2024 earnings of $6.29 per share, which beat the Zacks Consensus Estimate of $5.80. The bottom line, however, plunged 38% from the prior-year quarter.
This was due to lower shipment volumes across all segments, reflecting weak demand, which was somewhat negated by the company&#39;s pricing strategies and cost-saving measures.
Net sales of equipment operations (comprising Agriculture, and Turf, Construction and Forestry) were $11.39 billion, down 19.9% year over year. However, net sales topped the Zacks Consensus Estimate of $10.87 billion. Total net sales (including financial services and others) were $13.15 billion, down 16.8% year over year.
<h2>Deere&#39;s 2024 Net Income Outlook Indicates Y/Y Dip</h2>
Deere stated that in the wake of challenging conditions in the global agricultural and construction sectors, the company will align its production with demand levels and also take steps to reduce costs. Deere maintained its guidance of net income for fiscal 2024 at $7 billion. The view suggests a 31% decline from net income of $10.2 billion reported in fiscal 2023.
Net sales for Production &amp; Precision Agriculture are expected to decrease 20-25% year over year in fiscal 2024. Sales of Small Agriculture &amp; Turf are expected to dip 20-25%. Deere projects sales of Construction &amp; Forestry to be down 10-15%. The Financial Services segment&#39;s net income is expected to be $720 million.
<h2>DE Share Price Outperforms Industry</h2>
DE shares have gained 8.7% in the past year compared with the industry&#39;s growth of 4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/1c/79542.jpg?v=1652687335" />
Image Source: Zacks Investment Research
<h2>Deere&#39;s Zacks Rank &amp; Stocks to Consider</h2>
DE currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>), Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) and RBC Bearings Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rbc#NYSE">RBC</a>). Each stock presently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Crane&#39;s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS&#39; 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company&#39;s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for RBC Bearings&#39; fiscal 2025 earnings is pegged at $9.71 per share. The consensus estimate for 2025 earnings has moved north by 1.4% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4.7%. RBC shares have gained 27.2% in a year.
<a href="https://www.zacks.com/stock/news/2342803/deere-recalls-its-compact-utility-tractors-for-brake-failure-risk?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2342803">To read this article on Zacks.com click here.</a>

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Analyst Ratings

Deere Recalls Its Compact Utility Tractors for Brake Failure Risk

Analysts' ratings for Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) over the last quarter vary from bullish to bearish, as provided by 7 analysts.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Flowserve, presenting an average target of $58.14, a high estimate of $60.00, and a low estimate of $52.00. This upward trend is apparent, with the current average reflecting a 3.82% increase from the previous average price target of $56.00.
<img src="https://www.benzinga.com/files/images/story/2024/1727197217_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Flowserve's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Obin</td>
<td>B of A Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$60.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Joseph Giordano</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$57.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Nathan Jones</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$60.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Deane Dray</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$52.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Michael Halloran</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$60.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Andrew Obin</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$60.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Nathan Jones</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$58.00</td>
<td>$55.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Flowserve. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Flowserve compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Flowserve's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Flowserve's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/FLS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Flowserve analyst ratings.</a>
<h2>Delving into Flowserve's Background</h2>
Flowserve Corp is a manufacturer and aftermarket service provider of comprehensive flow control systems. It develops precision-engineered flow control equipment to monitor movement and protect customers' materials and processes. It offers an extensive range of pumps, valves, seals, and services for several industries, including oil and gas, chemical, power generation, and water management. In addition, Flowserve has a network of Quick Response Centers to provide aftermarket equipment services. The aftermarket services help customers with installation, diagnostics, repair, and retrofitting. Sales are roughly split across many regions, with North America and Europe contributing the majority of total revenue.
<h3>Flowserve's Economic Impact: An Analysis</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Flowserve's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 7.08%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 6.28%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Flowserve's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 3.7%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Flowserve's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.41%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.74, caution is advised due to increased financial risk.
<h2>Analyst Ratings: Simplified</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
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Expert Ratings For Flowserve

B of A Securities analyst Andrew Obin reiterates Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Buy and maintains $60 price target.

Price Target

Reiteration

B of A Securities Reiterates Buy on Flowserve, Maintains $60 Price Target

Stanley Black &amp; Decker, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/swk#NYSE">SWK</a>) cost-reduction program is expected to aid its bottom line and drive margin performance in the quarters ahead. The program comprises a series of initiatives to resize the organization, reduce inventory and optimize the supply chain with the goal of repositioning it to pursue sustainable long-term growth.
In the first six months of 2024 and since the inception of the program, SWK realized pre-tax run rate savings of $295 million and $1.3 billion, respectively. The savings were driven by lower headcount, reductions of indirect spending and supply-chain transformation.
Stanley Black has been divesting non-core operations to drive growth. In April 2024, the company divested its STANLEY Infrastructure (Infrastructure) business to Epiroc AB for a cash consideration of $760 million. The divestment will help the company to focus on its core businesses, reduce debt and support capital-allocation priorities.
It remains focused on rewarding its shareholders through dividend payments and share buybacks. In the first six months of 2024, the firm paid dividends of $243.6 million, up 1.7% year over year. It also bought back shares worth $7.7 million. In July 2024, SWK hiked its quarterly dividend by a penny to 82 cents per share.
<h2>SWK&#39;s Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9c/77848.jpg?v=1064530480" />
Image Source: Zacks Investment Research
In the past three months, the Zacks Rank #3 (Hold) company has gained 20.2% compared with the industry&#39;s&nbsp; 9.4% growth.
Despite the positives, lower consumer outdoor and do-it-yourself market demand is a concern for the Tools &amp; Outdoor segment. Within the segment, the power tools business has been experiencing weaknesses due to reduced demand for consumer tools. Weakening automotive end markets, owing to headwinds in the global automotive OEM light vehicle production, are another setback.
Further, the low liquidity level remains a concern. Exiting the second quarter, the company&#39;s cash and cash equivalents were $318.5 million, lower than the short-term borrowings of $492.4 million. Its current maturities of long-term debt totaled $500.1 million. This implies that SWK does not have sufficient cash to meet its current debt obligations. Also, the stock looks more leveraged than the industry. Its long-term debt/capital ratio is currently 0.39, higher than 0.36 of the industry.
<h2>Stocks to Consider</h2>
Some better-ranked companies from the same space are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank #2 (Buy).
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.2%.
<a href="https://www.zacks.com/stock/news/2336321/stanley-black-exhibits-bright-prospects-headwinds-persist?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2336321">To read this article on Zacks.com click here.</a>

Mid Cap

Dividends

Buybacks

Stanley Black Exhibits Bright Prospects, Headwinds Persist

Zebra Technologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zbra#NASDAQ">ZBRA</a>) has introduced three new solutions, namely, the Zebra Kiosk System, Zebra Workcloud Actionable Intelligence 7.0 and the ET6x Windows rugged tablets at the annual ZONE customer conference.
At Zebra Technologies&#39; ZONE event, retailers connect with customers, partners and prospects to explore industry challenges and opportunities with keynote presentations focusing on key topics, including inventory management, loss prevention and efficiency improvement. In this event, the company introduced its expanded range of integrated hardware and software solutions, utilizing AI, cloud and machine learning to enhance workflow efficiencies and elevate customer and associate experiences in modern retail environments.
ZBRA&#39;s Kiosk System is a versatile, modular solution made to address self-service needs across retail and other sectors, anchored by the KC50 Android Kiosk Computer available in 15&quot; and 22&quot; screen sizes. This system, which includes tap-to-pay, works with all major payment terminals and has a voice assistant, thereby making checkout easier and allowing staff to focus on more important tasks. Built on Qualcomm&#39;s advanced chipset and Zebra&#39;s Enterprise Android platform with Mobility DNA, the product ensures seamless connectivity, security and management, with flexible deployment options and the ability to add components like barcode scanners, payment terminals or a TD50 15&quot; touch display for a dual-display setup.
Zebra Workcloud Actionable Intelligence 7.0 brings a next-gen, AI-powered analytics platform tailored for the modern store, leveraging Google Cloud&#39;s serverless query engine for unmatched speed and performance. The update automates data analysis, task management and action verification, enabling users to quickly identify hidden insights and streamline workflows, ultimately enhancing productivity and uncovering opportunities beyond human detection.
The ET6x Windows rugged tablets, powered by Intel&#39;s Core Ultra platform with a dedicated Neural Processing Unit, enhance AI capabilities across industries such as retail, logistics and field services. These advanced features improve performance and efficiency for various applications. The tablets also come with the Zebra Control Hub for streamlined configuration and management, featuring an advanced AI-enabled touchscreen for improved accuracy, AI-powered audio for better communication and flexible usage options.
<h2>ZBRA&#39;s Zacks Rank and Price Performance</h2>
ZBRA currently carries a Zacks Rank #3 (Hold).
Zebra Technologies is focusing on advancing digital capabilities, optimizing the supply chain and expanding data analytics capabilities to engage with its customers. Higher sales of mobile computing products are supporting the Enterprise Visibility &amp; Mobility segment&#39;s sales.
In the past year, the company&#39;s shares have gained 31.4% compared with the industry&#39;s 23.1% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/90/77384.jpg?v=722242881" />
Image Source: Zacks Investment Research
Weak demand for printing solutions is affecting the company&#39;s Asset Intelligence &amp; Tracking segment. Low demand for RFID products is also concerning. High debt levels are also likely to raise the company&#39;s financial obligations and hurt profitability. Given its diverse presence, forex woes remain concerning.
<h2>Stocks to Consider</h2>
Some better-ranked companies are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank #2 (Buy).
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.1%.
<a href="https://www.zacks.com/stock/news/2334835/zebra-technologies-unveils-retail-efficiency-solutions-at-zone?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2334835">To read this article on Zacks.com click here.</a>

Retail Sales

Management

Tech

ZBRA

Zebra Technologies Unveils Retail Efficiency Solutions at ZONE

Tetra Tech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttek#NASDAQ">TTEK</a>) recently announced that it has secured a $39.3 million contract from the United States Agency for International Development (&quot;USAID&quot;). The latest deal will involve the company supporting USAID&#39;s Engendering Industries program.
As part of the single-award deal, Tetra Tech will work on enhancing gender equality and women&#39;s economic empowerment opportunities in multiple industries throughout the world. These industries include water, infrastructure, power, transportation as well as information and communications technology.
Under the USAID Engendering Industries program, the company&#39;s professionals will utilize data-driven change management tactics to help companies and organizations boost gender equality and economic opportunities for women globally. As part of the Engendering Industries program since 2018, TTEK has been offering technical support services to more than 68 organizations in 39 countries.
<h2>Tetra Tech&#39;s Other Notable Contracts</h2>
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In July 2024, the company received a $73 million deal from the USAID to enhance the availability of cost-effective and dependable electricity across 18 nations in West Africa. Also, in March 2024, it secured a $375 million multiple-award contract from National Aeronautics and Space Administration (&quot;NASA&quot;). Per the five-year contract, Tetra Tech will offer environmental restoration and compliance services at NASA facilities across the United States.
In January 2024, the company secured a $34 million contract from the USAID. Per the deal, TTEK will support the USAID Integrated Land and Resource Governance II project, which is aimed at promoting sustainable economic development through better land rights governance. Also, in the same month, it secured a $24 million, single-award deal from USAID to conserve biodiversity and natural resources in Cambodia.
<h2>TTEK&#39;s Zacks Rank and Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/49/77316.jpg?v=170175387" />
Image Source: Zacks Investment Research
Tetra Tech currently carries a Zacks Rank #2 (Buy). Shares of the company gained 50.1% in the past year against the industry&lsquo;s 11% decline.
<h2>Other Stocks to Consider</h2>
Other top-ranked companies from the same space are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank of 2.
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.1%.
<a href="https://www.zacks.com/stock/news/2334556/tetra-tech-secures-39-3m-single-award-contract-from-usaid?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2334556">To read this article on Zacks.com click here.</a>

Contracts

TTEK

Tetra Tech Secures $39.3M Single-Award Contract From USAID

Proto Labs, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/prlb#NYSE">PRLB</a>) announced that it launched Axtra3D Hybrid PhotoSynthesis technology, which expands its 3D printing capabilities. The launch of HPS complements Proto Labs&#39; strategy to meet additional customer needs and extend into production use cases.
<h2>PRLB&#39;s HPS to Complement Existing Capabilities</h2>
HPS employs a precision laser and a digital light processing system to capture images of internal and external part structures at the same time. This dual 3D printing approach helps overcome previous 3D printing limitations. Common HPS applications include production-grade components with high throughput parts. It requires high-accuracy features for testing and validation, and cosmetic prototypes with glass-like surface finishes.
HPS supports the company&#39;s existing Carbon digital light synthesis printers for 3D printing projects that demand better mechanical qualities.
<h2>Current Available HPS Materials Boost Proto Labs&#39; Potential</h2>
The two currently available HPS materials include Tough Black (Loctite Henkel 3843) and Ceramic-filled (BASF 3280).
Tough Black is an engineering-grade resin with great strength and exceptional impact resistance, whereas Ceramic-filled is a stiff substance commonly used for tooling and molding. Both materials increase the company&#39;s advanced photopolymer catalog and supplement the materials previously available for Carbon DLS.
<h2>PRLB Q2 Earnings Beat Estimates, Revenues Rise Y/Y</h2>
In the second quarter of 2024, Proto Labs reported a 3.3% year-over-year increase in revenues to $126 million. The top line met the Zacks Consensus Estimate. The company reported earnings per share of 18 cents against the loss of 1 cent posted in the second quarter of 2023. The bottom line beat the Zacks Consensus Estimate of 16 cents.
<h2>Proto Labs&#39; Share Price Performance</h2>
Proto Lab&#39;s shares have gained 0.4% in the past year against the industry&#39;s 16.6% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8c/77208.jpg?v=172366857" />
Image Source: Zacks Investment Research
<h2>PRLB&#39;s Zacks Rank &amp; Other Stocks to Consider</h2>
PRLB currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>), Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) and Cintas Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctas#NASDAQ">CTAS</a>). These three companies have a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Crane&#39;s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS&#39; 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company&#39;s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for Cintas&#39; 2024 earnings is pegged at $16.64 per share. The consensus estimate for 2024 earnings has moved north by 1% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4%. CTAS shares have gained 60.4% in a year.
<a href="https://www.zacks.com/stock/news/2334207/proto-labs-launches-axtra3d-hps-technology-to-boost-capabilities?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2334207">To read this article on Zacks.com click here.</a>

Small Cap

CTAS

PRLB

Proto Labs Launches Axtra3D HPS Technology to Boost Capabilities

A month has gone by since the last earnings report for Flowserve (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>). Shares have lost about 0.2% in that time frame, underperforming the S&amp;P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Flowserve due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
<h3>Flowserve Q2 Earnings &amp; Revenues Top Estimates, Rise Y/Y</h3>
Flowserve&#39;s second-quarter 2024 adjusted earnings (excluding 18 cents from non-recurring items) of 73 cents per share beat the Zacks Consensus Estimate of 63 cents. The bottom line increased 40.4% year over year. Results primarily benefited from higher revenues, partially offset by an increase in operating costs and expenses.
Flowserve&#39;s total revenues of $1.16 billion beat the consensus estimate of $1.12 billion. The top line increased 7.1% year over year. Sales increased 7.7% on a constant-currency basis.
Aftermarket sales increased 5% year over year (up 5.8% on a constant-currency basis) to $590.5 million. Original equipment sales totaled $566.4 million, reflecting an increase of 9.4% year over year (up 9.8% on a constant-currency basis).
Total bookings amounted to $1.25 billion, reflecting an increase of 12.2% (up 13% on a constant-currency basis) year over year. The backlog at the end of the quarter was $2.7 billion, up 2.8% sequentially.
<h3>Segmental Details</h3>
Flowserve currently has two reportable segments, Flowserve Pump Division and Flow Control Division. A brief discussion of the segments is provided below:
Revenues from the Flowserve Pump Division segment were $812.2 million, up 6.1% year over year. Bookings increased 18.3% year over year to $898.8 million. Segmental operating income was $131 million, up 33.7% year over year.
Revenues from the Flow Control Division segment were $347.7 million, up 9.4% year over year. Bookings of $349.2 million decreased 2.9% on a year-over-year basis. The segment&#39;s operating income was $32.3 million, down 10.5% year over year.
<h3>Margin Profile</h3>
In the second quarter, Flowserve&#39;s cost of sales increased 4.4% year over year to $790.8 million. Gross profit increased 13.4% year over year to $366.1 million and the margin increased 170 basis points (bps) to 31.6%. Selling, general and administrative expenses were $238.6 million, up 3.7% year over year.
Operating income increased 25.5% year over year to $121.3 million. The adjusted operating margin was 12.5%, up 210 bps year over year. The effective tax rate was 23.8%.
<h3>Balance Sheet and Cash Flow</h3>
Exiting the second quarter, Flowserve had cash and cash equivalents of $515.1 million compared with $545.7 million at the end of December 2023. Long-term debt (due after one year) was $1.21 billion compared with $1.17 billion at the end of December 2023.
In the first six months of 2024, the company generated net cash of $49.5 million from operating activities compared with $50.4 million in the year-ago period. Capital expenditure totaled $28.3 million, down 11.3% year over year.
During the same period, the company used $55.3 million for distributing dividends.
<h3>2024 Guidance</h3>
Flowserve continues to expect a 4-6% increase in revenues from the year-ago levels. The company anticipates earnings per share (on a reported basis) to be between $2.25 and $2.45. Adjusted earnings per share are now estimated in the $2.60&ndash;$2.75 band, higher than the earlier guidance of $2.50-$2.70. The Zacks Consensus Estimate for adjusted earnings is pegged at $2.68 per share.
The adjusted tax rate is projected to be approximately 21%. The company forecasts net interest expense and capital expenditure to be in the range of $60-$65 million and $75-$85 million, respectively.
<h2>How Have Estimates Been Moving Since Then?</h2>
In the past month, investors have witnessed a downward trend in estimates review.
<h2>VGM Scores</h2>
Currently, Flowserve has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.
<h2>Outlook</h2>
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. Notably, Flowserve has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
<h2>Performance of an Industry Player</h2>
Flowserve is part of the Zacks Manufacturing - General Industrial industry. Over the past month, Barnes Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/b#NYSE">B</a>), a stock from the same industry, has gained 0.4%. The company reported its results for the quarter ended June 2024 more than a month ago.
Barnes Group reported revenues of $382.23 million in the last reported quarter, representing a year-over-year change of +12.8%. EPS of $0.37 for the same period compares with $0.58 a year ago.
Barnes Group is expected to post earnings of $0.39 per share for the current quarter, representing a year-over-year change of +105.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -3.3%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #5 (Strong Sell) for Barnes Group. Also, the stock has a VGM Score of F.
<a href="https://www.zacks.com/stock/news/2328389/flowserve-fls-down-0-2-since-last-earnings-report-can-it-rebound?cid=CS-BENZ-FT-realtime_blog-2328389">To read this article on Zacks.com click here.</a>

Earnings Beats

Flowserve Down 0.2% Since Last Earnings Report: Can It Rebound?

Nordson Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ndsn#NASDAQ">NDSN</a>) is well-poised for growth, courtesy of strength across its businesses and accretive acquisitions. Handsome rewards to shareholders add to the stock&#39;s appeal.
Headquartered in Westlake, OH, Nordson is one of the leading manufacturers as well as distributors of products and systems designed to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials and other fluids. The company&#39;s product line includes single-use components, stand-alone units for low-volume operations and microprocessor-based automated systems for high-speed, high-volume production lines.
Let&#39;s delve into the factors that make this company a smart investment choice at the moment.
Business Strength: Strong momentum in the Industrial Precision Solutions segment is supporting Nordson&#39;s performance. Growing demand for nonwoven product lines in the industrial and consumer non-durable end markets is aiding the segment. Also, the growing need for packaged goods in food and beverage, personal care and cosmetics markets is driving demand for the company&#39;s packaging product lines, which also bodes well for the segment.
Expansion Efforts: NDSN is focused on strengthening its competency through acquisitions. In the third quarter of fiscal 2024 (ended July 2024), acquired assets boosted the company&#39;s total revenues by 4%. In August 2024, Nordson completed the acquisition of Atrion Corporation. The inclusion of Atrion&#39;s three major businesses &mdash; Halkey Roberts, Atrion Medical and Quest Medical &mdash; will enable Nordson to expand its medical offerings in the infusion and cardiovascular therapies market. Management expects the buyout to offer significant operational synergies when combined with its medical business expertise.
In August 2023, the company acquired ARAG Group and its subsidiaries. The acquisition expanded Nordson&#39;s core capabilities in precision dispensing technology, helping it foray into the rapidly growing, precision agriculture end-market. ARAG is part of the Industrial Precision Solutions segment. Also, in November 2022, Nordson acquired CyberOptics Corporation, expanding its semiconductor test and inspection capabilities.
Nordson currently carries a Zacks Rank #2 (Buy). In the past three months, the stock has gained 10.1% compared with the industry&#39;s 3.7% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d2/75597.jpg?v=661930330" />
Image Source: Zacks Investment Research
Rewards to Shareholders: NDSN continues to increase shareholders&#39; value through dividend payments and share repurchases. In the first nine months of fiscal 2024, it paid out dividends of $116.8 million, up 4.8% year over year. In the same period, it bought back shares worth $34.1 million. In August 2024, the company hiked its dividend by 15% to 78 cents per share. This marks its 61st consecutive year of dividend increase.
In September 2022, the company&#39;s board authorized the repurchase of up to an additional $500 million in shares on top of the existing share repurchase authorization. Exiting the fiscal third quarter, it had approximately $0.52 million available of the total $1.5 million authorized for share repurchases.
<h2>Other Stocks to Consider</h2>
Some other top-ranked companies from the same space are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank of 2.
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Ferguson Enterprises Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ferg#NYSE">FERG</a>) currently carries a Zacks Rank of 2. FERG delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Ferguson&#39;s fiscal 2025 earnings has remained steady.
<a href="https://www.zacks.com/stock/news/2327853/here-s-why-you-should-add-nordson-stock-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2327853">To read this article on Zacks.com click here.</a>

FERG

NDSN

Here's Why You Should Add Nordson Stock to Your Portfolio Now

Flowserve Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) announced a definitive <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40336543/flowserve-to-acquire-mogas-industries-accelerating-3d-growth-strategy" rel="noreferrer noopener">agreement to acquire Houston-based MOGAS Industries</a>, a provider of severe service valves, for $290 million with a potential $15 million earnout.
Founded in 1973 by V. Louis Mogas, MOGAS is a manufacturer of severe service isolation valves for industries like mining and power, with a global presence that complements Flowserve&#8217;s markets.
MOGAS&#8217; specialized valve products will enhance Flowserve&#8217;s installed base and aftermarket opportunities. After the acquisition, MOGAS will integrate into Flowserve&#8217;s Flow Control Division, strengthening its valve portfolio and benefiting customers, particularly in the mining industry.
MOGAS expects to contribute revenues of approximately&nbsp;$200 million&nbsp;with adjusted EBITDA margins in the high teens. The transaction is expected to be accretive to Flowserve&#8217;s adjusted EPS in the first full year.
Flowserve anticipates at least $15 million in cost synergies within two years and increased aftermarket potential and revenue growth opportunities. The transaction is expected to close in the&nbsp;fourth quarter&nbsp;of 2024.
Flowserve expects to finance the upfront cash consideration through cash and available debt financing.&nbsp;As of June end, it held <a target="_blank" href="http://The transaction is expected to close in the&nbsp;fourth quarter&nbsp;of 2024." rel="noreferrer noopener">cash and equivalents of $515.08 million.</a>
Price Action: FLS shares are trading higher by 1.15% at $45.77 at the last check Tuesday.
Photo via Shutterstock

Equities

Flowserve Seals $290M Deal For MOGAS Industries, Enhancing Its Mining And Process Industry Offerings

Flowserve to Acquire MOGAS Industries For $290M With A Potential $15M Earnout; Transaction Expected To Close In Q4

Enersys (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ens#NYSE">ENS</a>) reported first-quarter fiscal 2025 (ended Jun 30, 2024) adjusted earnings of $1.98 per share, which surpassed the Zacks Consensus Estimate of $1.97. The bottom line increased 5% year over year due to lower operating expenses.
Enersys&#39; net sales of $852.9 million missed the consensus estimate of $878 million. The top line declined 6% year over year due to temporary spending pauses in telecom and broadband. While organic sales decreased 3%, price/mix and foreign currency translation had adverse impacts of 2% and 1%, respectively, on sales.
<h3>Segmental Discussion</h3>
The Energy Systems segment&#39;s sales (accounting for 42.3% of total sales) were $361 million, down 15% year over year. The Zacks Consensus Estimate for segmental net sales was $372 million.&nbsp; Net sales decreased due to capital spending pauses of telecommunication and broadband customers. While organic sales decreased 11%, price/mix and foreign currency translation had an adverse impacts of 3% and 1%, respectively, on sales.
The Motive Power segment generated net sales of $366.2 million (accounting for 43% of total sales), up 4% year over year. The consensus estimate for segmental net sales was $366 million. The upside was driven by a 6% increase in organic volume, partially offset by a 1% unfavorable impact each from price/mix and foreign currency translation.
The Specialty segment&#39;s sales were $125.7 million (accounting for 14.7% of total sales), down 6% year over year. The consensus estimate was $136 million. Organic volume declined 3% and foreign currency translation had an adverse impact of 3% on sales.
<div class="chart_embed">
<h3>Enersys Price, Consensus and EPS Surprise</h3>
<img alt="Enersys Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/e2/1723210386.png" style="height:265px; width:576px" title="" />
Enersys price-consensus-eps-surprise-chart | Enersys Quote
</div>
<h3>Margin Profile</h3>
EnerSys&#39; cost of sales decreased 8.8% year over year to $535.8 million. Gross profit decreased 0.8% year over year to $238.4 million while the adjusted gross margin was up 120 basis points (bps) to 28%.
Operating expenses decreased 2.4% year over year to $141.1 million. Adjusted operating earnings were down 1.4% to $106 million. The adjusted operating margin increased 60 bps year over year to 12.4%.
<h3>Balance Sheet and Cash Flow</h3>
At the end of the fiscal first quarter, EnerSys had cash and cash equivalents of $344.1 million compared with $346.7 million at the end of fiscal 2023. Long-term debt (net of unamortized debt issuance costs) was $867.1 million compared with $1.04 billion at the fiscal 2023-end.
EnerSys generated net cash of $10.4 million from operating activities in the fiscal first quarter compared with $74.9 million in the year-ago period. Capital expenditure totaled $36.1 million compared with $16.1 million in the previous year&#39;s period.
In fiscal 2024, EnerSys rewarded its shareholders with a dividend payout of approximately $9.1 million, up 26.1% year over year. Concurrent with the earnings release, the company&#39;s board of directors approved a 7% increase in its quarterly cash dividend, which increased to 24 cents from 22.5 cents per share.
<h3>Guidance</h3>
For fiscal 2025, EnerSys expects adjusted earnings to be in the range of $8.80&ndash;$9.20 per share compared with $8.55&ndash;$8.95 guided earlier. Net sales are now expected to be in the band of $3.735&ndash;$3.885 billion, higher than the previous projection of $3.7-$3.8 billion. The company expects capital expenditures to be approximately $100-$120 million. Tax rate is estimated to be in the band of 20&ndash;21%.
For the fiscal second quarter, the company anticipates adjusted earnings of $2.05&ndash;$2.15 per share. Net sales are projected to be in the range of $880&ndash;$920 million.
<h3>Zacks Rank and Key Picks</h3>
ENS currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the same space:
Allegion plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alle#NYSE">ALLE</a>) presently carries a Zacks Rank #2 (Buy).
It has a trailing four-quarter average earnings surprise of 10.3%.
The Zacks Consensus Estimate for ALLE&#39;s 2024 earnings has increased 1.1% in the past 60 days.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank of 2. FLS delivered a trailing four-quarter average earnings surprise of 18.2%.
In the past 60 days, the consensus estimate for Flowserve&#39;s 2024 earnings has increased 3%.
AptarGroup, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/atr#NYSE">ATR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 7.2%.
In the past 60 days, the Zacks Consensus Estimate for ATR&#39;s 2024 earnings has remained stable.
<a href="https://www.zacks.com/stock/news/2320240/enersys-ens-q1-earnings-surpass-estimates-sales-miss?cid=CS-BENZ-FT-analyst_blog|earnings_article-2320240">To read this article on Zacks.com click here.</a>

ALLE

Enersys Q1 Earnings Surpass Estimates, Sales Miss

TD Cowen analyst Joseph Giordano maintains Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Buy and raises the price target from $55 to $57.

TD Cowen Maintains Buy on Flowserve, Raises Price Target to $57

IDEX Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iex#NYSE">IEX</a>) second-quarter 2024 adjusted earnings of $2.06 per share surpassed the Zacks Consensus Estimate of $2.04. The bottom line decreased approximately 6% from the year-ago quarter&#39;s earnings of $2.18 per share. However, it exceeded management&#39;s projection of $2.00-$2.05 per share.
<h3>Revenue Details</h3>
IDEX&#39;s net sales of $807.2 million missed the Zacks Consensus Estimate of $831 million.&nbsp; The top line also decreased 5% year over year. Organic sales decreased 4% year over year. Foreign currency translation had a negative impact on sales by 1%.
IEX reports net sales under three business segments, the results of which are discussed below:
Net sales from the Fluid &amp; Metering Technologies segment totaled $319.4 million, down 2% year over year. Our estimate for segmental net sales was $327 million. While organic sales were flat year over, acquisition/divestitures and foreign currency translation each had a negative impact of 1% on sales.
Net sales from the Health &amp; Science Technologies segment totaled $303.8 million, indicating a year-over-year decline of 11%. Our estimate for segmental net sales was $321 million. Organic sales declined 11% year over year.
Net sales from the Fire &amp; Safety/Diversified Products segment totaled $185.4 million, which increased marginally year over year. Our estimate for segmental net sales was $185 million. Organic sales increased 1% on a year-over-year basis while foreign currency translation hurt sales by 1%.
<div class="chart_embed">
<h3>IDEX Corporation Price, Consensus and EPS Surprise</h3>
<img alt="IDEX Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/43/1722510887.png" style="height:265px; width:583px" title="" />
IDEX Corporation price-consensus-eps-surprise-chart | IDEX Corporation Quote
</div>
<h3>Margin Profile</h3>
IDEX&#39;s cost of sales decreased 5.9% year over year to $440.4 million. The gross profit was $366.8 million, down 3% year over year. The gross margin was 45.4% compared with 44.7% in the year-ago quarter.
Selling, general and administrative expenses increased 4.9% year over year to $182.8 million. Adjusted EBITDA decreased 6.9% year over year to $224.2 million. The adjusted EBITDA margin decreased 60 bps year over year to 27.8%.
The operating income was $182.7 million, down 8.7% year over year. The operating margin was 22.6%, down 100 bps year over year. Interest expenses (net) decreased 39.1% year over year to $8.1 million.
<h3>Balance Sheet and Cash Flow</h3>
While exiting the second quarter, IDEX&#39;s cash and cash equivalents were $700.7 million compared with $534.3 million at the end of fourth-quarter 2023. Long-term borrowings (net) were $1.30 billion compared with $1.33 billion at the end of fourth-quarter 2023.
In the first six months of 2024, IDEX generated net cash of $290.2 million from operating activities, up 0.4% from the year-ago period. Capital expenditures were $35.9 million compared with $48.2 million in the first six months of 2023. In the same period, free cash flow was $254.3 million, up 5.5% year over year.
Idex paid out dividends totaling $100.7 million in the first six months of 2024, up 7.2% year over year.
<h3>Outlook</h3>
For the third quarter, IDEX anticipates adjusted earnings to be in the band of $1.85-$1.90 per share.
On a GAAP basis, IEX predicts earnings to be in the range of $1.61-$1.66 per share and a 0-1% increase in organic sales from the respective year-ago readings.
For 2024, IDEX anticipates adjusted earnings to be $7.80-$7.90 per share, down from the earlier projected range of $8.15 - $8.45. The figure indicates a decrease from earnings of $8.22 per share reported in 2023. On a GAAP basis, earnings are predicted to be $6.85-$6.95 per share, down from the earlier guided range of $7.13-$7.43.
Organic sales are predicted to decline 1-2% compared with the 0-2% decline guided earlier.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
IDEX currently carries a Zacks Rank #4 (Sell). Some better-ranked companies from the Industrial Products sector have been discussed below:
Kadant Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kai#NYSE">KAI</a>) presently sports a Zacks Rank #1 (Strong Buy).
It has a trailing four-quarter average earnings surprise of 18%.
The Zacks Consensus Estimate for KAI&#39;s 2024 earnings has increased 0.2% in the past 60 days.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank #2 (Buy). FLS delivered a trailing four-quarter average earnings surprise of 18.2%.
In the past 60 days, the consensus estimate for Flowserve&#39;s 2024 earnings has increased 0.8%.
Emerson Electric Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/emr#NYSE">EMR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 10.7%.
In the past 60 days, the Zacks Consensus Estimate for EMR&#39;s 2024 earnings has increased 0.4%.
<a href="https://www.zacks.com/stock/news/2313904/idex-iex-q2-earnings-top-estimates-sales-miss-24-view-down?cid=CS-BENZ-FT-analyst_blog|earnings_article-2313904">To read this article on Zacks.com click here.</a>

IDEX Q2 Earnings Top Estimates, Sales Miss, '24 View Down

Stifel analyst Nathan Jones maintains Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Buy and raises the price target from $58 to $60.

Stifel Maintains Buy on Flowserve, Raises Price Target to $60

RBC Capital analyst Deane Dray maintains Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Sector Perform and raises the price target from $50 to $52.

RBC Capital Maintains Sector Perform on Flowserve, Raises Price Target to $52

Baird analyst Michael Halloran maintains Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Neutral and raises the price target from $57 to $60.

Baird Maintains Neutral on Flowserve, Raises Price Target to $60

B of A Securities analyst Andrew Obin maintains Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Buy and raises the price target from $57 to $60.

B of A Securities Maintains Buy on Flowserve, Raises Price Target to $60

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to report quarterly earnings at $2.93 per share on revenue of $64.36 billion after the closing bell. Microsoft shares fell 0.4% to $425.00 in after-hours trading.</li>
<li>Flowserve Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) reported upbeat earnings for its second quarter on Monday. Flowserve shares fell 0.8% to $50.50 in the after-hours trading session.</li>
<li>Analysts expect Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) to post quarterly earnings at 46 cents per share on revenue of $13.02 billion. The company will release earnings before the markets open. Pfizer shares fell 0.2% to $30.72 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates. Harmonic shares jumped 13.2% to $13.30 in the after-hours trading session.</li>
<li>Analysts expect The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) to post quarterly earnings at $1.37 per share on revenue of $20.74 billion before the opening bell. Procter &amp; Gamble shares gained 0.3% to $170.39 in after-hours trading.</li>
</ul>
Check This Out:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40007546/anixa-biosciences-and-3-other-stocks-under-5-insiders-are-buying">Anixa Biosciences And 3 Other Stocks Under $5 Insiders Are Buying</a></li>
</ul>
Photo courtesy: Procter &amp; Gamble

Procter & Gamble, Microsoft And 3 Stocks To Watch Heading Into Tuesday

WIIM

Flowserve shares are trading lower following Q2 earnings.

The industrial sector is poised for long-term growth due to rising demand for smart industrial machinery, manufacturing initiatives, and advanced technologies. Consequently, investors might consider undervalued industrial stocks like Columbus McKinnon (CMCO), Flowserve (FLS), and Tennant (TNC), which are ready for a rebound. Read on... In 2024, the industrial sector is transforming with a focus on smart machines, digitalization, and sustainability. Enterprises are integrating new technologies to boost energy efficiency, reduce waste, and enhance adaptability. Moreover, digital tools and IoT are improving flexibility and predictive capabilities, leading to more efficient and responsive future factories.
Given this favorable outlook, it could be worthwhile to invest in robust industrial stocks like Columbus McKinnon Corporation (<a href="https://stocknews.com/stock/CMCO/">CMCO</a>), Flowserve Corporation (<a href="https://stocknews.com/stock/FLS/">FLS</a>), and Tennant Company (<a href="https://stocknews.com/stock/TNC/">TNC</a>), which have discounted valuations and look poised for a rebound.
Despite high interest rates and regulatory issues, the industrial sector is rebounding with Industry 4.0 and a focus on digital transformation and AI. Meanwhile, increased deal-making is boosting production and supporting growth in services and exports, enhancing competitiveness and economic development. The global industrial services market is expected to grow at a 5.7% CAGR, reaching <a href="https://www.thebusinessresearchcompany.com/report/industrial-services-global-market-report">$44.05 billion by 2028</a>.
Furthermore, the industrial machinery sector is expanding due to advancements in automation, robotics, IoT, and smart manufacturing. These innovations have revolutionized agricultural, construction, and packaging machinery, driving global expansion of the sector. As a result, the industrial machinery market is expected to grow at a <a href="https://www.gminsights.com/industry-analysis/industrial-machinery-market">7.5% CAGR</a> from 2024 to 2032.
Let's analyze the fundamental aspects of the three <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> stocks mentioned above, starting with the third choice.
Stock #3: Columbus McKinnon Corporation (<a href="https://stocknews.com/stock/CMCO/">CMCO</a>)
CMCO designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; jacks; winches; hydraulic tools; trolleys; lifting tables; skates; material handling equipment; cranes; crane components and kits; and below-the-hook lifting devices.
On July 22, 2024, CMCO announced a quarterly dividend of $0.07 per share, payable on August 19, 2024, to shareholders of record on August 9, 2024. The company has approximately 28.8 million shares outstanding.
In terms of forward non-GAAP P/E, CMCO's 12.74x is 35.2% lower than the 19.67x industry average. Its 1.11x forward non-GAAP <a href="https://www.investopedia.com/terms/p/pegratio.asp">PEG</a> is 37.6% lower than the 1.78x industry average. Similarly, its 9.31x forward EV/EBITDA is 20.4% lower than the 11.69x industry average.
CMCO's net sales for the fourth quarter ended March 31, 2024, increased 4.6% year-over-year to $265.50 million. Similarly, its non-GAAP adjusted gross profit rose 6.5% from the previous year to $97.13 million. Its adjusted operating income stood at $31.08 million, up 6.6% year-over-year. The company's adjusted net income and adjusted EPS were $21.79 million and $0.75, respectively.
For the quarter ended June 30, 2024, CMCO's revenue is expected to increase 2.5% year-over-year to $241.25 million. Its EPS for the quarter ending September 30, 2024, is expected to increase 8.1% year-over-year to $0.82. Over the past nine months, the stock has gained 28.4% to close the last trading session at $39.26.
CMCO's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a B grade for Value, Stability, and Sentiment. Within the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry, it is ranked #23 out of 78 stocks. To see CMCO's Growth, Momentum, and Quality ratings, <a href="https://stocknews.com/stock/CMCO/">click here</a>.
Stock #2: Flowserve Corporation (<a href="https://stocknews.com/stock/FLS/">FLS</a>)
FLS designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through the Flowserve Pump Division (FPD) and the Flow Control Division (FCD) segments.
On July 23, 2024, FLS acquired cryogenic LNG pumping technology and intellectual property from NexGen Cryo to enhance its LNG product portfolio. This acquisition aims to advance FLS' decarbonization strategy and improve efficiency in the LNG market.
On April 23, 2024, FLS announced receiving over $150 million in project awards from Middle East-based EPC contractors. These awards, primarily for original equipment pumps, will be reflected in Q2 2024 results, with additional substantial project opportunities expected through 2025.
In terms of forward EV/EBIT, FLS' 13.75x is 16% lower than the 16.36x industry average. Likewise, its 18.36x forward non-GAAP P/E is 6.7% lower than the 19.67x industry average. Also, its 1.63x forward EV/Sales is 11.3% lower than the 1.84x industry average.
During the second quarter ended June 30, 2024, FLS' sales increased 7.1% year-over-year to $1.16 billion. Its adjusted gross profit grew 14% from the previous year's quarter to $373.62 million.
For the same quarter, its adjusted operating income of $144.43 million indicates a 27.9% increase over the prior-year quarter. Additionally, adjusted net earnings stood at $96.33 million, or $0.73 per share, up 41.3% and 40.4% year-over-year, respectively.
Analysts expect FLS' EPS and revenue for the quarter ending September 30, 2024, to increase 29.2% and 2.9% year-over-year to $0.65 and $1.13 billion, respectively. FLS surpassed the Street EPS estimates in each of the trailing four quarters. Over the past nine months, the stock has gained 34.6% to close the last trading session at $49.23.
It's no surprise that FLS has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Growth, Value, and Sentiment. FLS is ranked #8 in the same industry. Beyond what we stated above, we also have given FLS grades for Momentum, Stability, and Quality. Get all FLS ratings <a href="https://stocknews.com/stock/FLS/">here</a>.
Stock #1: Tennant Company (<a href="https://stocknews.com/stock/TNC/">TNC</a>)
TNC designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides a suite of products, including floor maintenance and cleaning equipment, along with other sustainable cleaning technologies.
On May 3, 2024, TNC announced the international expansion of its i-mop family, including the i-mop Lite and i-mop XL Plus, into Brazil, France, Portugal, and Spain. This expansion enhances their global cleaning solutions with advanced, efficient mechanized cleaning products.
On May 1, 2024, TNC declared a regular quarterly cash dividend of $0.28 per share. The dividend will be payable on June 14, 2024, to shareholders of record as of May 31, 2024.
In terms of forward EV/Sales, TNC's 1.72x is 6.6% lower than the 1.84x industry average. Its 14.60x forward EV/EBIT is 10.8% lower than the 16.36x industry average. Likewise, its 16.29x forward non-GAAP P/E is 17.2% lower than the 19.67x industry average.
For the first quarter, which ended March 31, 2024, TNC's net sales amounted to $311 million, up 1.7% year-over-year. Its adjusted EBITDA rose 14.6% over the prior-year quarter to $54.90 million. Moreover, the company's adjusted income increased by 28% year-over-year to $34.70 million, and its adjusted income per share came in at $1.81, up 24.8% year-over-year.
Street expects TNC's revenue for the quarter ended June 30, 2024, is expected to increase 1.7% year-over-year to $327 million. Its EPS for the quarter ending September 30, 2024, is expected to rise 14.2% year-over-year to $1.53. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 42.7% to close the last trading session at $107.59.
TNC's positive outlook is reflected in its POWR Ratings. It has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
It has a B grade for Value and Quality. It is ranked #5 out of 78 stocks in the Industrial - Machinery industry. To access TNC's rating for Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/TNC/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
FLS shares were trading at $50.59 per share on Wednesday afternoon, up $1.36 (+2.76%). Year-to-date, FLS has gained 23.84%, versus a 16.60% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/fls-tnc-cmco-3-undervalued-industrial-stocks-ready-for-a-rebound/>3 Undervalued Industrial Stocks Ready for a Rebound</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Industrial Stocks Ready for a Rebound

Mizuho Securities analyst Brett Linzey has reiterated their bullish stance on FLS stock, giving a Buy rating yesterday. Brett Linzey has given his ...

Flowserve Corporation: Strong Buy Rating with Increased Price Target Amidst Operational Excellence and Market Momentum

Industrial technology is pushing the boundaries of innovation, addressing modern industrial challenges, and meeting the growing demand for such processes. In this context, investing in industrial tech stocks like Donaldson Company (DCI), Tennant Co. (TNC), and Flowserve Corp. (FLS) could be wise. Keep reading… Industrial technology is all about making production faster, simpler, and more efficient by using advanced engineering and manufacturing techniques. From designing machinery and equipment to analyzing production costs, this sector is rapidly evolving, fueled by rising demand for automation and the modernization of the production processes.
Given this momentum, investors could consider investing in fundamentally sound industrial machinery stocks such as Donaldson Company, Inc. (<a href="https://stocknews.com/stock/DCI/">DCI</a>), Tennant Company (<a href="https://stocknews.com/stock/TNC/">TNC</a>), and Flowserve Corporation (<a href="https://stocknews.com/stock/FLS/">FLS</a>), which are riding the wave of technological advancements.
The ongoing market rally, spurred by artificial intelligence (AI), is extending its reach beyond tech into industrial manufacturing and machinery. The fusion of AI with cloud computing and the Internet of Things (IoT) is propelling this sector forward, offering benefits like real-time data analysis, cost savings, and enhanced collaboration.
The impact is evident in the AI software segment of the industrial machinery market, which dominated in 2023 with a value of $1.29 billion and is poised to grow at an impressive CAGR of 24.1% through 2032.
As AI continues to advance, the industrial machinery sector is gearing up for a transformative leap driven by smarter decision-making, predictive maintenance, and automation. With the market expected to grow at a solid <a href="https://www.gminsights.com/industry-analysis/industrial-machinery-market">7.5% CAGR</a> from 2024 to 2032, the future looks bright for innovation in this space.
Industrial technology and machinery are driving innovation, making them attractive picks for investors seeking exposure in this sector. Companies in this space are developing cutting-edge solutions, from AI-driven machinery and IoT-enabled equipment to advanced material handling systems. With the rapid and steady growth in innovation, these companies are well-positioned to deliver significant returns.
To that end, let's evaluate the fundamental aspects of the three <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> stocks mentioned above, starting with the third choice.
Stock #3: Flowserve Corporation (<a href="https://stocknews.com/stock/FLS/">FLS</a>)
FLS is a manufacturer and aftermarket service provider of comprehensive flow control systems. The company develops and manufactures precision-engineered flow control equipment integral to the movement, control, and protection of the flow of materials. It operates through two segments: Flowserve Pump Division (FPD) and Flow Control Division (FCD).
On July 23, FLS acquired intellectual property and in-process R&amp;D from NexGen Cryogenic Solutions, Inc., a cryogenic LNG pump technology specialist based in Arizona. This move enhances the company's decarbonization capabilities and aligns with its 3D growth strategy to diversify, decarbonize, and digitize.
On July 12, buoyed by its strong financial performance, FLS paid its shareholders a quarterly dividend of $0.21 per share.
The company pays an annual dividend of $0.84, which translates to a yield of 1.89% at the current share price. Its four-year average dividend yield is 2.26%. Moreover, its dividend payouts have increased at a CAGR of 1.5% over the past five years.
For the second quarter of 2024, which ended on June 30, FLS' sales increased 7.1% year-over-year to $1.16 billion, while its adjusted gross profit grew 14% from the year-ago value to $373.62 million. Its non-GAAP <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> stood at $144.43 million, up 27.9% year-over-year. The company's non-GAAP net earnings amounted to $96.33 million or $0.73 per share, reflecting an increase of 41.3% and 40.4% year-over-year, respectively.
Analysts expect FLS' revenue for the third quarter (ending September 2024) to increase 2.6% year-over-year to $1.12 billion, while its EPS for the same quarter is expected to grow 29.7% from the prior year to $0.65. Moreover, the company has consistently exceeded expectations, surpassing the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past nine months, the stock has gained 19.4%, closing the last trading session at $44.51.
FLS' strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
FLS has a B grade for Growth, Value, and Sentiment. It is ranked #9 out of 78 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry. <a href="https://stocknews.com/stock/FLS/">Click here</a> to access the other FLS ratings for Momentum, Stability, and Quality.
Stock #2: Tennant Company (<a href="https://stocknews.com/stock/TNC/">TNC</a>)
TNC designs, manufactures, and markets floor-cleaning equipment worldwide. Its offerings include floor maintenance equipment, sustainable cleaning technologies, aftermarket parts, and repair services. The company's products are available under various brands, such as Tennant, Nobles, Alfa Uma Empresa Tennant, IPC, Gaomei, and Rongen.  
On August 6, the company declared a dividend of $0.28 per common share, payable on September 16, 2024, to shareholders of record on August 30, 2024. TNC pays an annual dividend of $1.12, which translates to a yield of 1.16% at the prevailing price levels. Its four-year average dividend yield is 1.30%. Also, it has a record of 51 years of consecutive dividend growth.
On May 3, TNC introduced its i-mop&#xAE; Lite and i-mop&#xAE; XL Plus scrubbers to Brazil, France, Portugal, and Spain. These advanced, mechanized cleaning solutions offer a more efficient alternative to traditional mop-and-bucket methods. The expansion reflects TNC's growing partnership with i-team Global and aims to target a broader customer base with innovative cleaning technologies.
In the fiscal second quarter that ended on June 30, 2024, TNC's net sales increased 2.9% year-over-year to $331 million. Its gross profit grew 2.3% from the year-ago value to $142.70 million. The company reported adjusted EBITDA of $58.60 million, indicating a marginal growth from the prior-year quarter. In addition, its adjusted net income came in at $35.20 million, up 1.4% year-over-year.
According to the 2024 updated guidance, the company expects net sales to range from $1.28 billion to $1.31 million, with adjusted EBITDA between $205 million and $215 million. The adjusted EBITDA margin is expected to range from 16% to 16.5%, an increase from the prior range of 15.6% to 16.4%.
Street expects TNC's revenue for the third quarter (ending September 2024) to increase 3.3% year-over-year to $314.80 million. Its EPS for the current quarter is expected to grow 14.2% from the previous year, settling at $1.53. In addition, the company has topped revenue and EPS in each of the trailing four quarters, which is promising.
The stock has gained 14.9% over the past nine months to close the last trading session at $96.02.
It's no surprise that TNC has an overall rating of B, equating to a Buy in our POWR Ratings system. It also has a B grade for Value, Stability, and Quality. Out of 78 stocks in the same industry, TNC is ranked #6.
Beyond what is stated above, we've also rated TNC for Growth, Momentum, and Sentiment. Get all TNC ratings <a href="https://stocknews.com/stock/TNC/">here</a>.
Stock #1: Donaldson Company, Inc. (<a href="https://stocknews.com/stock/DCI/">DCI</a>)
DCI manufactures and sells filtration systems and replacement parts for diverse industries and advanced markets worldwide. The company operates through three segments: Mobile Solutions; Industrial Solutions; and Life Sciences. 
On July 26, demonstrating its commitment to returning value to shareholders, the company declared the 68th consecutive quarterly dividend of $0.27 per common share. This dividend will be paid on August 28, 2024, to shareholders on record as of August 13, 2024.
With 28 years of consecutive dividend growth, DCI pays an annual dividend of $1.08, which translates to a yield of 1.52% at the current share price. Its four-year average dividend yield is 1.53%. Moreover, its dividend payouts have increased at a CAGR of 6.3% over the past three years.
On June 20, DCI introduced the Dual-Stage Jet, a new battery venting system design, at The Battery Show in Stuttgart, Germany. This advanced system is designed to address the higher demands of modern, complex batteries. The company anticipates that the launch will enhance its ability to cater to the expanding global EV market by offering an additional top-tier product to its customers.
In April, the company also agreed to acquire a 49% stake in Medica S.p.A, a leading provider of hollow fiber membrane filtration technology for medical applications and water purification.
DCI's net sales for the fiscal third quarter that ended April 30, 2024, increased 6% year-over-year to $927.90 million. The company's adjusted EBITDA rose 16.4% from the prior-year quarter to $173.60 million. In addition, its adjusted net earnings attributable to DCI came in at $113.50 million or $0.92 per share, up 21.1% year-over-year.
For the full year, the company expects EPS to be between $3.33 and $3.39, up from the prior forecast of $3.24 to $3.32. This compares to fiscal 2023 GAAP EPS of $2.90 and adjusted EPS of $3.04. Sales are anticipated to grow 4% to 6% year-over-year, with a 2% pricing benefit.
The consensus revenue estimate of $942.76 million for the fiscal fourth quarter (ended July 2024) represents a 7.2% increase year-over-year. The consensus EPS estimate of $0.89 for the ongoing quarter indicates a 13.9% improvement year-over-year. The company has an excellent earnings surprise history; it surpassed the consensus EPS estimates in each of the trailing four quarters.
DCI shares have surged 20.7% over the past nine months and 8.5% year-to-date to close the last trading session at $70.87.
DCI's POWR Ratings reflect its promising outlook. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It has a B grade for Growth, Stability, and Quality. Within the same A-rated industry, DCI is ranked #2. <a href="https://stocknews.com/stock/DCI/">Click here</a> to access additional ratings for DCI (Value, Momentum, and Sentiment).
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
DCI shares were trading at $71.57 per share on Thursday afternoon, up $0.70 (+0.99%). Year-to-date, DCI has gained 10.34%, versus a 11.67% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/dci-fls-tnc-3-industrial-tech-stocks-driving-innovation/>3 Industrial Tech Stocks Driving Innovation</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Industrial Tech Stocks Driving Innovation

Goldman screens for post-selloff stocks with healthy fundamentals at a discount

Flowserve to buy MOGAS Industries in $290M deal plus potential earnout

In a report released today, Bryan Blair from Oppenheimer maintained a Hold rating on Flowserve (FLS – Research Report). The company's shares closed...

Flowserve (FLS) Receives a Hold from Oppenheimer

Flowserve declares $0.21 dividend

ATS Corporation: This High-Quality Compounder Is A Bargain At 16x Earnings

Flowserve (FLS – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Andrew Obin from Bank of A...

Flowserve's Buy Rating Affirmed Amid Nuclear Sector Resurgence and Positive Power Market Trends

In a report released today, Andrew Obin from Bank of America Securities maintained a Buy rating on Flowserve (FLS – Research Report). The company's...

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