Flowserve Co. (NYSE:FLS) Given Average Recommendation of “Moderate Buy” by Analysts

Flowserve Co. (NYSE:FLS) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $64.40.

A number of equities research analysts have issued reports on FLS shares. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group initiated coverage on Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price target on the stock. Stifel Nicolaus upped their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th.

Flowserve Trading Down 1.2 %

Shares of Flowserve stock opened at $58.33 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve has a 52 week low of $39.37 and a 52 week high of $62.32. The stock has a 50 day moving average price of $59.48 and a two-hundred day moving average price of $53.04. The stock has a market capitalization of $7.66 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Flowserve will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s payout ratio is 41.58%.

Institutional Investors Weigh In On Flowserve

Several hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Flowserve during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in Flowserve during the third quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve during the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve in the third quarter worth about $29,000. Finally, Allworth Financial LP lifted its stake in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 403 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

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.