Analysts Set Flowserve Co. (NYSE:FLS) Target Price at $47.75

Shares of Flowserve Co. (NYSE:FLSGet Free Report) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $47.75.

A number of equities analysts recently commented on the stock. Citigroup raised their price objective on shares of Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada raised their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Robert W. Baird lifted their target price on shares of Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Mizuho raised their price target on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd.

Get Our Latest Analysis on Flowserve

Flowserve Price Performance

Shares of NYSE:FLS opened at $46.66 on Friday. The firm’s 50 day moving average is $44.02 and its two-hundred day moving average is $40.77. Flowserve has a 52 week low of $32.05 and a 52 week high of $48.31. The firm has a market capitalization of $6.12 billion, a P/E ratio of 33.09, a PEG ratio of 1.33 and a beta of 1.46. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59.

Flowserve (NYSE:FLSGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.63 earnings per share. Flowserve’s revenue was up 12.2% compared to the same quarter last year. Analysts anticipate that Flowserve will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.21 per share. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio is 59.57%.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody National Bank Trust Division raised its position in shares of Flowserve by 2.8% in the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 259 shares during the period. Nomura Holdings Inc. bought a new position in Flowserve during the fourth quarter worth about $6,384,000. Quadrature Capital Ltd bought a new position in Flowserve during the fourth quarter worth about $440,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Flowserve by 345.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 113,500 shares of the industrial products company’s stock worth $4,678,000 after acquiring an additional 88,000 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in Flowserve during the fourth quarter worth about $22,321,000. 93.93% of the stock is owned by institutional investors.

Flowserve Company Profile

(Get Free Report

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.

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Analyst Recommendations for Flowserve (NYSE:FLS)

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