Flowserve Corp Now Covered by Barclays (FLS)
Research analysts at Barclays assumed coverage on shares of Flowserve Corp (NYSE:FLS) in a report released on Tuesday. The firm set an “overweight” rating and a $85.00 price target on the stock. Barclays’ target price suggests a potential upside of 12.00% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $82.54.
Flowserve Corp (NYSE:FLS) traded up 0.95% during mid-day trading on Tuesday, hitting $76.61. 533,199 shares of the company’s stock traded hands. Flowserve Corp has a 52-week low of $55.98 and a 52-week high of $82.24. The stock’s 50-day moving average is $74.18 and its 200-day moving average is $75.89. The company has a market cap of $10.481 billion and a P/E ratio of 21.22.
Flowserve Corp (NYSE:FLS) last posted its quarterly earnings results 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 in the previous 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. Analysts expect that Flowserve Corp will post $3.89 EPS 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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Wednesday, September 24th.
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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