Flowserve Co. (NYSE:FLS – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $56.88.
A number of equities research analysts recently commented on the company. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America restated a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on shares of Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st.
Read Our Latest Stock Report on Flowserve
Institutional Investors Weigh In On Flowserve
Flowserve Stock Down 2.3 %
Shares of NYSE FLS opened at $53.34 on Friday. Flowserve has a 52-week low of $35.31 and a 52-week high of $54.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The business has a fifty day moving average of $48.41 and a two-hundred day moving average of $48.17. The stock has a market cap of $7.02 billion, a PE ratio of 30.14, a PEG ratio of 1.16 and a beta of 1.39.
Flowserve (NYSE:FLS – Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Flowserve will post 2.76 earnings per share for the current fiscal year.
Flowserve Announces Dividend
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 paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.
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.
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