Flowserve Co. (NYSE:FLS) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Flowserve Co. (NYSE:FLS) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $64.40.

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Bank of America raised their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Mizuho raised their price objective on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Citigroup upped their target price on shares of Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, December 9th.

Flowserve Stock Down 2.3 %

Shares of NYSE:FLS opened at $59.83 on Wednesday. The business’s 50-day moving average is $57.77 and its 200-day moving average is $51.68. Flowserve has a 1 year low of $39.21 and a 1 year high of $62.32. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 1.48 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

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

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

Institutional Trading of Flowserve

Several hedge funds have recently made changes to their positions in the business. True Wealth Design LLC bought a new position in Flowserve during the third quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in shares of Flowserve during the third quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the third quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve during the 3rd quarter worth approximately $29,000. Finally, Signaturefd LLC boosted its holdings in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.