Flowserve Co. (NYSE:FLS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Flowserve Co. (NYSE:FLS) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages 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. Jefferies Financial Group assumed coverage on Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price target on the stock. Citigroup upped their target price on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird increased their price target 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. Bank of America boosted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th.

Flowserve Price Performance

FLS stock opened at $58.45 on Wednesday. Flowserve has a one year low of $39.21 and a one year high of $62.32. The firm has a 50-day moving average of $58.26 and a two-hundred day moving average of $52.11. The firm has a market capitalization of $7.68 billion, a PE ratio of 28.94, a P/E/G ratio of 1.48 and a beta of 1.41. 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 issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company posted $0.50 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.44%. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

Institutional Investors Weigh In On Flowserve

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Flowserve in the third quarter valued at approximately $25,000. Signaturefd LLC raised its holdings in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares during the period. V Square Quantitative Management LLC acquired a new position in Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the third quarter valued at about $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the third quarter valued at about $29,000. 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.