Flowserve Co. (NYSE:FLS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Flowserve Co. (NYSE:FLS) have received an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $48.25.

A number of analysts have recently commented on FLS shares. Royal Bank of Canada boosted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Robert W. Baird lifted their target price on Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Stifel Nicolaus upped their target price on Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup raised their price target on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Mizuho boosted their price target on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd.

Flowserve Stock Performance

FLS opened at $45.63 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 1.32 and a beta of 1.46. The business’s 50-day moving average price is $44.43 and its two-hundred day moving average price is $40.93. Flowserve has a 1 year low of $32.05 and a 1 year high of $48.31.

Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $0.63 EPS. Flowserve’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts expect that Flowserve will post 2.55 EPS for the current fiscal year.

Flowserve Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.21 dividend. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.84%. Flowserve’s dividend payout ratio is currently 59.57%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new stake in Flowserve during the 4th quarter valued at $26,000. First Manhattan CO. LLC. lifted its stake in shares of Flowserve by 682.6% during the 1st quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after buying an additional 785 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares during the period. Quarry LP acquired a new position in Flowserve in the 1st quarter valued at about $38,000. Finally, Harbour Investments Inc. raised its holdings in Flowserve by 79.5% in the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 700 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.