Flowserve Corporation (FLS) Receives Average Recommendation of “Hold” from Brokerages
Flowserve Corporation (NYSE:FLS) has received a consensus rating of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $47.70.
Several analysts have recently weighed in on the company. Wolfe Research assumed coverage on Flowserve Corporation in a report on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 target price for the company. Zacks Investment Research downgraded Flowserve Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $47.00 price objective (down from $56.00) on shares of Flowserve Corporation in a research note on Friday, July 28th. BidaskClub downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $51.00 price objective (down from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th.
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Shares of Flowserve Corporation (NYSE FLS) traded up 0.09% on Wednesday, hitting $44.62. The stock had a trading volume of 1,170,213 shares. Flowserve Corporation has a 52-week low of $37.51 and a 52-week high of $52.10. The firm has a market cap of $5.83 billion, a PE ratio of 55.77 and a beta of 1.47. The firm’s 50-day moving average price is $42.10 and its 200 day moving average price is $45.00.
Flowserve Corporation (NYSE:FLS) last posted its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $933.91 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts predict that Flowserve Corporation will post $1.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, September 21st. Flowserve Corporation’s dividend payout ratio (DPR) is 98.70%.
Several hedge funds have recently modified their holdings of FLS. UBS Asset Management Americas Inc. raised its stake in shares of Flowserve Corporation by 9.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 362,165 shares of the industrial products company’s stock worth $17,536,000 after buying an additional 31,186 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Flowserve Corporation during the 1st quarter worth approximately $151,000. Stifel Financial Corp raised its stake in shares of Flowserve Corporation by 0.5% during the 1st quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock worth $770,000 after buying an additional 83 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Flowserve Corporation by 10.3% during the 1st quarter. OppenheimerFunds Inc. now owns 11,063 shares of the industrial products company’s stock worth $536,000 after buying an additional 1,034 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Flowserve Corporation by 5.1% during the 1st quarter. Teachers Advisors LLC now owns 158,109 shares of the industrial products company’s stock worth $7,656,000 after buying an additional 7,720 shares in the last quarter.
Flowserve Corporation 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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