Flowserve Co. (NYSE:FLS) Given Consensus Rating of “Buy” by Brokerages

Flowserve Co. (NYSE:FLSGet Rating) has been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $38.44.

A number of brokerages recently issued reports on FLS. Royal Bank of Canada reduced their target price on Flowserve from $38.00 to $33.00 in a research note on Wednesday, May 4th. Stifel Nicolaus cut their price target on Flowserve from $42.00 to $35.00 in a research report on Wednesday, May 4th. StockNews.com assumed coverage on Flowserve in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho raised Flowserve from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $35.00 in a research report on Friday, February 25th. Finally, Morgan Stanley increased their price target on Flowserve from $32.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th.

FLS stock traded down $0.05 during midday trading on Friday, reaching $30.13. The stock had a trading volume of 69,907 shares, compared to its average volume of 1,246,107. The stock has a market cap of $3.94 billion, a PE ratio of 40.65, a P/E/G ratio of 1.23 and a beta of 1.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 2.07. The firm has a fifty day simple moving average of $33.70 and a two-hundred day simple moving average of $32.55. Flowserve has a 52-week low of $28.15 and a 52-week high of $44.39.

Flowserve (NYSE:FLSGet Rating) last issued its earnings results on Monday, May 2nd. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Flowserve had a return on equity of 8.57% and a net margin of 2.74%. During the same period in the previous year, the business posted $0.28 earnings per share. On average, sell-side analysts predict that Flowserve will post 1.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 24th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Thursday, June 23rd. Flowserve’s dividend payout ratio (DPR) is presently 108.11%.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Flowserve by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,415,131 shares of the industrial products company’s stock worth $445,703,000 after buying an additional 61,518 shares during the last quarter. BlackRock Inc. lifted its stake in Flowserve by 0.8% in the 1st quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock worth $387,485,000 after purchasing an additional 88,950 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its stake in Flowserve by 2.8% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 6,308,365 shares of the industrial products company’s stock worth $226,470,000 after purchasing an additional 169,375 shares in the last quarter. Nordea Investment Management AB purchased a new position in Flowserve in the 1st quarter worth approximately $182,253,000. Finally, Wellington Management Group LLP purchased a new position in Flowserve in the 1st quarter worth approximately $163,840,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

About Flowserve (Get Rating)

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.

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