Flowserve Co. (NYSE:FLS) Receives $58.50 Consensus PT from Brokerages

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $60.10.

A number of research analysts have issued reports on FLS shares. The Goldman Sachs Group boosted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective for the company. Bank of America increased their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th.

Flowserve Stock Up 0.4 %

Shares of NYSE FLS opened at $53.74 on Tuesday. The firm’s fifty day moving average is $50.99 and its 200 day moving average is $49.15. Flowserve has a 52 week low of $36.85 and a 52 week high of $55.90. The company has a quick ratio of 1.40, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.27 and a beta of 1.38.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, equities research analysts expect that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s payout ratio is 41.58%.

Institutional Investors Weigh In On Flowserve

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its position in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Flowserve in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $29,000. nVerses Capital LLC purchased a new position in Flowserve during the second quarter valued at approximately $34,000. Finally, Allworth Financial LP boosted its position in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.