Flowserve Corp Given Average Rating of “Buy” by Analysts (NYSE:FLS)
Flowserve Corp (NYSE:FLS) has received an average recommendation of “Buy” from the fourteen brokerages that are covering the stock, AnalystRatings.NET reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $82.33.
Shares of Flowserve Corp (NYSE:FLS) traded up 0.21% on Wednesday, hitting $76.41. The stock had a trading volume of 11,574 shares. Flowserve Corp has a 52 week low of $55.64 and a 52 week high of $82.24. The stock has a 50-day moving average of $73.99 and a 200-day moving average of $75.85. The company has a market cap of $10.453 billion and a price-to-earnings ratio of 21.32.
Flowserve Corp (NYSE:FLS) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.93 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.93. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Flowserve Corp will post $3.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, September 24th.
A number of analysts have recently weighed in on FLS shares. Analysts at Zacks reiterated a “neutral” rating on shares of Flowserve Corp in a research note on Wednesday, August 20th. They now have a $79.00 price target on the stock. Separately, analysts at Maxim Group upgraded shares of Flowserve Corp from a “hold” rating to a “buy” rating in a research note on Friday, July 25th. They now have a $92.00 price target on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Flowserve Corp in a research note on Friday, June 27th. They set a “sell” rating and a $78.00 price target on the stock.
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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