Flowserve Corp Now Covered by Analysts at Goldman Sachs (FLS)
Equities researchers at Goldman Sachs started coverage on shares of Flowserve Corp (NYSE:FLS) in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “sell” rating and a $78.00 price target on the stock. Goldman Sachs’ target price would suggest a potential upside of 3.11% from the stock’s previous close.
FLS has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Flowserve Corp in a research note on Friday, June 6th. They now have a $79.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Flowserve Corp from $90.00 to $92.00 in a research note on Friday, April 11th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $82.40.
Shares of Flowserve Corp (NYSE:FLS) traded down 2.71% during mid-day trading on Friday, hitting $73.60. The stock had a trading volume of 425,393 shares. Flowserve Corp has a 1-year low of $53.80 and a 1-year high of $82.24. The stock has a 50-day moving average of $75.6 and a 200-day moving average of $76.12. The company has a market cap of $10.108 billion and a price-to-earnings ratio of 21.45.
Flowserve Corp (NYSE:FLS) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts predict that Flowserve Corp will post $3.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, June 25th.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufacture precision-engineered flows control equipment integral to the movement, control and protection of the flow of materials in its customers’ critical processes.
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