Flowserve Co. (NYSE:FLS) Receives $68.60 Consensus PT from Brokerages

Flowserve Co. (NYSE:FLS) has earned a consensus rating of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $68.60.

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Mizuho lifted their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup dropped their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th.

Institutional Trading of Flowserve

Several large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in shares of Flowserve by 0.6% in the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after purchasing an additional 215 shares during the period. Arizona State Retirement System raised its stake in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock worth $2,193,000 after buying an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock worth $1,527,000 after buying an additional 236 shares during the period. Savant Capital LLC boosted its position in Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after acquiring an additional 251 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Flowserve by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 252 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of NYSE:FLS opened at $48.72 on Friday. The company’s fifty day moving average price is $56.54 and its 200-day moving average price is $56.56. Flowserve has a one year low of $43.66 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, equities research analysts anticipate that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.72%. Flowserve’s dividend payout ratio is presently 39.25%.

Flowserve Company Profile

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.