Flowserve Co. (NYSE:FLS) Receives $68.60 Average PT from Analysts

Flowserve Co. (NYSE:FLS) has earned a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $68.60.

A number of analysts recently commented on the company. Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. TD Cowen increased their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada dropped their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently made changes to their positions in FLS. State Street Corp grew its holdings in Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after buying an additional 37,132 shares in the last quarter. Vestcor Inc bought a new position in shares of Flowserve in the third quarter valued at approximately $714,000. Stifel Financial Corp grew its stake in Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after acquiring an additional 29,979 shares in the last quarter. New York Life Investment Management LLC bought a new stake in Flowserve during the 4th quarter worth approximately $800,000. Finally, GAMMA Investing LLC lifted its stake in Flowserve by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 290 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Down 3.4 %

Shares of NYSE:FLS opened at $48.72 on Friday. The business’s 50 day moving average is $56.54 and its 200 day moving average is $56.56. Flowserve has a 12-month low of $43.66 and a 12-month high of $65.08. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) 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 return on equity of 17.08% and a net margin of 6.20%. On average, sell-side analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

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

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.