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

Flowserve Co. (NYSE:FLS) has received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $64.11.

A number of research firms have commented on FLS. Mizuho boosted their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Royal Bank of Canada boosted their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus boosted their price target on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th.

Flowserve Price Performance

Shares of Flowserve stock opened at $51.60 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm’s 50-day simple moving average is $46.50 and its 200-day simple moving average is $54.74. Flowserve has a twelve month low of $37.34 and a twelve month high of $65.08. The firm has a market cap of $6.75 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio is presently 39.25%.

Hedge Funds Weigh In On Flowserve

Institutional investors have recently modified their holdings of the stock. New York Life Investment Management LLC bought a new position in shares of Flowserve in the fourth quarter worth about $800,000. American Century Companies Inc. raised its stake in shares of Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock worth $6,384,000 after buying an additional 22,850 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Flowserve during the fourth quarter worth approximately $422,000. Commonwealth Equity Services LLC raised its stake in shares of Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company’s stock worth $1,197,000 after buying an additional 10,557 shares during the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Flowserve during the fourth quarter worth approximately $278,000. 93.93% of the stock is owned by 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.