Flowserve Co. (NYSE:FLS) Plans Quarterly Dividend of $0.21

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Tuesday, February 18th, RTT News reports. Shareholders of record on Friday, March 28th will be given a dividend of 0.21 per share by the industrial products company on Friday, April 11th. This represents a $0.84 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, March 28th.

Flowserve has increased its dividend payment by an average of 1.6% annually over the last three years. Flowserve has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.71 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 22.6%.

Flowserve Stock Performance

Shares of FLS opened at $52.45 on Wednesday. Flowserve has a one year low of $43.66 and a one year high of $65.08. The company has a 50-day moving average of $57.27 and a two-hundred day moving average of $56.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts expect that Flowserve will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

FLS has been the topic of several recent analyst reports. Mizuho upped their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Monday, March 17th. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

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.