Flowserve Co. (NYSE:FLS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flowserve Co. (NYSE:FLS) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $56.11.

FLS has been the topic of a number of recent analyst reports. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus increased their price objective on shares of Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. UBS Group upped their price target on shares of Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, TD Cowen lifted their price objective on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st.

Flowserve Stock Up 1.4 %

FLS stock opened at $47.93 on Thursday. Flowserve has a one year low of $35.31 and a one year high of $52.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. The firm’s fifty day moving average is $47.95 and its 200 day moving average is $46.63. The firm has a market cap of $6.31 billion, a PE ratio of 27.08, a P/E/G ratio of 1.19 and a beta of 1.42.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, research analysts forecast that Flowserve will post 2.72 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.75%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Hedge Funds Weigh In On Flowserve

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its stake in shares of Flowserve by 1,137.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 306,852 shares of the industrial products company’s stock worth $14,760,000 after acquiring an additional 282,052 shares during the last quarter. Chase Investment Counsel Corp increased its position in Flowserve by 2.4% during the second quarter. Chase Investment Counsel Corp now owns 107,650 shares of the industrial products company’s stock worth $5,177,000 after purchasing an additional 2,503 shares during the last quarter. Brandes Investment Partners LP raised its stake in Flowserve by 8.6% during the second quarter. Brandes Investment Partners LP now owns 83,435 shares of the industrial products company’s stock worth $3,996,000 after purchasing an additional 6,597 shares during the period. Algert Global LLC acquired a new position in Flowserve in the 2nd quarter valued at about $2,278,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in shares of Flowserve by 12.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 93,350 shares of the industrial products company’s stock valued at $4,490,000 after buying an additional 9,980 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.