Flowserve (NYSE:FLS) Reaches New 52-Week Low – What’s Next?

Flowserve Co. (NYSE:FLS)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $43.41 and last traded at $43.54, with a volume of 1476055 shares. The stock had previously closed at $49.86.

Wall Street Analysts Forecast Growth

FLS has been the topic of several research analyst reports. Mizuho raised their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Stifel Nicolaus raised their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Citigroup reduced their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Down 8.1 %

The business has a 50-day simple moving average of $54.75 and a two-hundred day simple moving average of $56.41. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Institutional Trading of Flowserve

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Flowserve by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock worth $775,209,000 after acquiring an additional 101,668 shares in the last quarter. FIL Ltd increased its holdings in shares of Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock valued at $302,271,000 after purchasing an additional 2,193,904 shares in the last quarter. State Street Corp lifted its stake in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares during the period. AQR Capital Management LLC boosted its holdings in Flowserve by 9.7% during the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock worth $168,272,000 after buying an additional 258,361 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Flowserve by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company’s stock worth $136,213,000 after buying an additional 38,340 shares during the period. 93.93% of the stock is 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.