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

Flowserve Corporation (NYSE:FLS) has been given a consensus recommendation of “Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $63.00.

Several equities analysts recently issued reports on FLS shares. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Citigroup cut their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Mizuho set a $60.00 price objective on shares of Flowserve in a report on Friday, May 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 1st.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $55.29 on Friday. The firm has a market cap of $7.23 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The firm’s 50 day simple moving average is $49.11 and its 200-day simple moving average is $52.27. Flowserve has a one year low of $37.34 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07.

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

Flowserve Dividend Announcement

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

Institutional Investors Weigh In On Flowserve

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

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.