Flowserve Corporation (NYSE:FLS) Stock Has Consensus Target Price of $85.40 According to Brokerages

Flowserve Corporation (NYSE:FLS) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $85.40.

Several analysts recently issued reports on the stock. Weiss Ratings raised shares of Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Stifel Nicolaus upped their price objective on shares of Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada dropped their price objective on shares of Flowserve from $94.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Robert W. Baird set a $93.00 price objective on shares of Flowserve in a research note on Friday, July 31st. Finally, Mizuho reduced their price objective on shares of Flowserve from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, October 15th.

Flowserve Trading Up 1.3%

Shares of Flowserve stock opened at $71.76 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. Flowserve has a 52 week low of $57.51 and a 52 week high of $92.41. The stock has a 50 day moving average price of $74.25 and a two-hundred day moving average price of $76.37. The stock has a market capitalization of $9.12 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Flowserve had a return on equity of 21.42% and a net margin of 8.01%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Flowserve will post 4.10 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, September 25th. Flowserve’s dividend payout ratio is currently 30.88%.

Hedge Funds Weigh In On Flowserve

A number of hedge funds have recently added to or reduced their stakes in FLS. Pension & Wealth Management Advisors Inc. bought a new position in Flowserve in the 3rd quarter valued at $33,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Flowserve during the 2nd quarter worth $34,000. Global Retirement Partners LLC bought a new stake in shares of Flowserve during the 2nd quarter worth $38,000. Root Financial Partners LLC purchased a new position in shares of Flowserve in the 3rd quarter worth about $41,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Flowserve in the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation is a global manufacturer of flow-control equipment and related services. The company designs, produces and services pumps, valves, mechanical seals and associated systems used to move, control and protect fluids in industrial processes.

Its products and services support applications across the energy, chemical and petrochemical, water, pharmaceutical, mining, power and general industrial markets. Flowserve also provides aftermarket services, including equipment repair, maintenance, upgrades and replacement parts, helping customers improve the reliability and efficiency of their operations.

Headquartered in Irving, Texas, Flowserve serves customers through manufacturing, sales and service operations in North America, Europe, Asia and other international markets.