Flowserve Corporation (NYSE:FLS) Given Average Rating of “Buy” by Analysts

Shares of Flowserve Corporation (NYSE:FLS) have received an average rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $63.00.

Several research analysts recently issued reports on FLS shares. Citigroup decreased their price target on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada increased their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Robert W. Baird decreased their price target on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th.

Flowserve Trading Up 2.4%

NYSE:FLS opened at $55.29 on Friday. The company has a 50-day moving average price of $49.11 and a 200-day moving average price of $52.27. Flowserve has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.27 and a beta of 1.25.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $0.58 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that Flowserve will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. Flowserve’s dividend payout ratio is currently 39.25%.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC increased its stake in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 479 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Flowserve during the 4th quarter valued at about $33,000. Colonial Trust Co SC increased its stake in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 478 shares in the last quarter. True Wealth Design LLC increased its stake in Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.