Flowserve Corporation (NYSE:FLS) Given Average Rating of “Buy” by Brokerages

Flowserve Corporation (NYSE:FLS) has been assigned an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $63.00.

Several research analysts have commented on the stock. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Mizuho set a $60.00 price objective on shares of Flowserve in a report on Friday, May 16th. Robert W. Baird dropped their price objective on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 1st.

Flowserve Stock Up 2.4%

FLS opened at $55.29 on Friday. The firm has a 50-day simple moving average of $49.11 and a two-hundred day simple moving average of $52.27. Flowserve has a 52 week low of $37.34 and a 52 week high of $65.08. The company has a market capitalization of $7.23 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, June 27th. Flowserve’s payout ratio is currently 39.25%.

Institutional Trading of Flowserve

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Flowserve by 6,084.1% in the first quarter. GAMMA Investing LLC now owns 111,746 shares of the industrial products company’s stock worth $5,458,000 after purchasing an additional 109,939 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in Flowserve in the first quarter worth about $216,000. American Century Companies Inc. lifted its stake in Flowserve by 25.9% in the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock worth $6,384,000 after purchasing an additional 22,850 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Flowserve during the fourth quarter worth approximately $422,000. Finally, Commonwealth Equity Services LLC increased its position 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 acquiring an additional 10,557 shares during the period. 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.