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

Flowserve Co. (NYSE:FLS) has been assigned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $63.00.

A number of analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. Mizuho set a $60.00 price objective on Flowserve in a research report on Friday, May 16th. Citigroup reduced their price objective on Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird reduced their price objective on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st.

Hedge Funds Weigh In On Flowserve

Several large investors have recently made changes to their positions in the business. Inspire Investing LLC lifted its position in shares of Flowserve by 1.2% during the 1st quarter. Inspire Investing LLC now owns 45,960 shares of the industrial products company’s stock worth $2,245,000 after purchasing an additional 526 shares during the last quarter. Strs Ohio acquired a new position in shares of Flowserve during the 1st quarter worth about $1,703,000. Acadian Asset Management LLC lifted its position in shares of Flowserve by 266.9% during the 1st quarter. Acadian Asset Management LLC now owns 192,970 shares of the industrial products company’s stock worth $9,421,000 after purchasing an additional 140,380 shares during the last quarter. SageView Advisory Group LLC lifted its position in shares of Flowserve by 55.6% during the 1st quarter. SageView Advisory Group LLC now owns 7,000 shares of the industrial products company’s stock worth $342,000 after purchasing an additional 2,500 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Flowserve by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 634,846 shares of the industrial products company’s stock worth $31,006,000 after purchasing an additional 35,363 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of FLS opened at $47.47 on Wednesday. Flowserve has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The company has a market cap of $6.21 billion, a P/E ratio of 22.18, a PEG ratio of 1.35 and a beta of 1.26. The stock has a fifty day moving average price of $46.41 and a 200 day moving average price of $53.68.

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

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, June 27th. Flowserve’s dividend payout ratio is 39.25%.

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.