Flowserve Co. (NYSE:FLS) Receives $64.40 Consensus Price Target from Analysts

Flowserve Co. (NYSE:FLS) has been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.40.

FLS has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Bank of America upped their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup boosted their target price on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th.

Flowserve Stock Performance

Shares of FLS opened at $58.06 on Wednesday. The stock has a 50 day moving average of $58.11 and a 200 day moving average of $51.90. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.48 and a beta of 1.41. Flowserve has a 12 month low of $39.21 and a 12 month high of $62.32. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

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

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. Flowserve’s payout ratio is 41.58%.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Flowserve in the third quarter worth $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the third quarter valued at $29,000. Finally, Signaturefd LLC grew its position in Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other 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.