Flowserve Corp (FLS) Given Consensus Recommendation of “Hold” by Analysts
Shares of Flowserve Corp (NYSE:FLS) have been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the company. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $57.86.
Several brokerages have recently weighed in on FLS. Cowen and Company raised shares of Flowserve Corp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $41.00 to $55.00 in a research report on Wednesday, April 19th. Seaport Global Securities raised shares of Flowserve Corp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $48.00 to $60.00 in a research report on Monday, January 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Flowserve Corp in a research report on Tuesday, March 28th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $46.00 price target on shares of Flowserve Corp in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets raised shares of Flowserve Corp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $53.00 in a research report on Monday, March 27th.
Flowserve Corp (NYSE:FLS) traded up 1.13% during trading on Friday, hitting $49.11. 1,674,408 shares of the stock traded hands. Flowserve Corp has a 12 month low of $39.13 and a 12 month high of $52.50. The firm has a market cap of $6.41 billion, a PE ratio of 52.81 and a beta of 1.58. The firm has a 50-day moving average price of $49.04 and a 200 day moving average price of $48.17.
Flowserve Corp (NYSE:FLS) last announced its quarterly earnings results on Monday, May 1st. The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Flowserve Corp had a net margin of 3.60% and a return on equity of 17.93%. The firm had revenue of $863.63 million during the quarter, compared to analysts’ expectations of $817.56 million. During the same quarter in the prior year, the company earned $0.39 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. On average, equities analysts forecast that Flowserve Corp will post $1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. Flowserve Corp’s payout ratio is 66.09%.
A number of large investors have recently bought and sold shares of FLS. Harbour Capital Advisors LLC purchased a new stake in Flowserve Corp during the first quarter worth approximately $116,000. Ameritas Investment Partners Inc. purchased a new stake in Flowserve Corp during the first quarter worth approximately $151,000. Mn Services Vermogensbeheer B.V. boosted its stake in Flowserve Corp by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock worth $157,000 after buying an additional 174 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Flowserve Corp by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock worth $158,000 after buying an additional 100 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in Flowserve Corp by 12.8% in the fourth quarter. Federated Investors Inc. PA now owns 3,398 shares of the industrial products company’s stock worth $163,000 after buying an additional 386 shares during the last quarter. 98.48% of the stock is owned by institutional investors.
Flowserve Corp Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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