Flowserve Co. (NYSE:FLS) Receives Average Rating of “Moderate Buy” from Analysts

Flowserve Co. (NYSE:FLS) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $51.55.

A number of brokerages have recently commented on FLS. Robert W. Baird increased their price target on shares of Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their price target on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group upped their price objective on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TD Cowen boosted their target price on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup increased their price target on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st.

Flowserve Stock Up 1.3 %

Shares of NYSE:FLS opened at $48.15 on Tuesday. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.25 and a beta of 1.42. Flowserve has a one year low of $32.49 and a one year high of $49.35. The firm has a fifty day moving average price of $45.56 and a two-hundred day moving average price of $41.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. Analysts anticipate that Flowserve will post 2.62 EPS for the current fiscal year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.74%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is presently 47.46%.

Hedge Funds Weigh In On Flowserve

A number of hedge funds have recently modified their holdings of FLS. Vanguard Group Inc. grew its stake in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after purchasing an additional 144,704 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Flowserve by 2.5% during the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock valued at $403,065,000 after buying an additional 246,636 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Flowserve by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock valued at $82,595,000 after buying an additional 157,125 shares during the period. Norges Bank bought a new position in shares of Flowserve during the fourth quarter valued at approximately $59,261,000. Finally, Gabelli Funds LLC boosted its holdings in Flowserve by 0.3% in the third quarter. Gabelli Funds LLC now owns 1,296,034 shares of the industrial products company’s stock valued at $51,543,000 after acquiring an additional 3,540 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

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.