Shares of Flowserve Corp (NYSE:FLS) have been given a consensus rating of “Hold” by the twelve analysts that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $57.86.
Several analysts have commented on the stock. BMO Capital Markets raised their price objective on shares of Flowserve Corp from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price objective (up from $53.00) on shares of Flowserve Corp in a report on Wednesday, May 3rd. Royal Bank of Canada restated a “sell” rating and issued a $46.00 price objective on shares of Flowserve Corp in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Flowserve Corp from a “strong sell” rating to a “hold” rating in a report on Monday, April 24th. Finally, Cowen and Company upgraded shares of Flowserve Corp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $55.00 in a report on Wednesday, April 19th.
Several large investors have recently made changes to their positions in the stock. Harbour Capital Advisors LLC purchased a new stake in shares of Flowserve Corp during the first quarter valued at $116,000. Advisor Group Inc. increased its stake in shares of Flowserve Corp by 4.9% in the third quarter. Advisor Group Inc. now owns 3,086 shares of the industrial products company’s stock valued at $150,000 after buying an additional 144 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Flowserve Corp during the first quarter worth approximately $151,000. Macquarie Group Ltd. increased its stake in Flowserve Corp by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock worth $158,000 after buying an additional 100 shares during the period. Finally, Federated Investors Inc. PA increased its stake in Flowserve Corp by 12.8% in the fourth quarter. Federated Investors Inc. PA now owns 3,398 shares of the industrial products company’s stock worth $163,000 after buying an additional 386 shares during the period. 98.48% of the stock is owned by institutional investors.
Shares of Flowserve Corp (NYSE:FLS) opened at 49.47 on Monday. Flowserve Corp has a 52-week low of $39.13 and a 52-week high of $52.50. The company has a market capitalization of $6.46 billion, a PE ratio of 53.19 and a beta of 1.58. The stock’s 50 day moving average price is $49.12 and its 200-day moving average price is $48.42.
Flowserve Corp (NYSE:FLS) last issued its quarterly earnings data on Monday, May 1st. The industrial products company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Flowserve Corp had a net margin of 3.60% and a return on equity of 17.93%. The business had revenue of $863.63 million during the quarter, compared to analyst estimates of $817.56 million. During the same period last year, the business posted $0.39 earnings per share. Flowserve Corp’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, analysts expect that Flowserve Corp will post $1.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, June 21st. Flowserve Corp’s dividend payout ratio (DPR) is currently 66.09%.
About Flowserve Corp
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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