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Flowserve Corp. Message Board

  • pom8han pom8han Oct 21, 2008 10:12 AM Flag

    Earnings 10/28...They raised guidance last qtr

    FLS was $135.09 on 7/30/8 when they last reported and beat estimates by $0.64 and sales were up 24%. Nice haircut since then. FLS raised FY08 guidance at the time, EPS $7.20-$7.50 over their prior guidance of $5.90-$6.20. I think the hedge funds has finished crushing FLS and the share price presents a bargain. I could be wrong, but not expecting much more downside from here.

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    • In todays market, which should be certified insane as it is not following any logic, one can never predict or hope for anything. It is what it is. Hedge funds are dumping shares and draining the market and investors are running scared as we are all standing on quicksand. This is an excellent company and should be trading at many times its current price.

      • 2 Replies to BGypsy1
      • I expect some continued short covering into conference call...then some selling prior to guidance. However, Q3 EPS $2.04 was at high end of guidance and Revenues were up 25.5%. FY EPS guidance reaffirmed at $7.20 - $7.50. But notice how analysts raised FY eps to $7.63 I think (need to double check). Bookings were up 30% and Backlog was up 35%. All very good. I will be selling today anyway for a very nice profit only because the election is still ahead and I really see profit taking into it. I don't think many investors want to "share the wealth" and be hit with a higher cap gains rate. I for one do not.

      • i agree however, it is what it is. have to wait for the call
        tomorrow. did not understand the blurb from in play that estimates are in line for 08 but they needed to back out .60 for currency; also want to hear about backlog, whether contracts are canceled or curtailed and looking forward; these earnings however look good considering and the stock is still over sold

    • thanks. i bot some more this morning in low 40s but i sold all near the close. oh well, cant complain. if it pulls back before the call I'll get back in.

      strange, there was not much activity AH

    • i agree with you but unfortunately if earnings are better than expected and we get a bounce it will be sold; timing is
      everything; even those few companies with decent or good
      earnings get sold; looking for a trade

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