Flowserve Co. (NYSE:FLS) Receives $64.40 Consensus Price Target from Brokerages

Flowserve Co. (NYSE:FLS) has received an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $64.30.

Several research firms recently weighed in on FLS. Bank of America raised their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Jefferies Financial Group initiated coverage on Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday.

Institutional Investors Weigh In On Flowserve

Several institutional investors have recently made changes to their positions in FLS. True Wealth Design LLC bought a new position in Flowserve during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Flowserve during the third quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Flowserve in the third quarter worth approximately $29,000. Finally, Allworth Financial LP lifted its stake in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

NYSE FLS opened at $59.60 on Friday. The business’s fifty day moving average is $59.58 and its 200 day moving average is $53.15. Flowserve has a fifty-two week low of $39.37 and a fifty-two week high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The company has a market capitalization of $7.83 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41.

Flowserve (NYSE:FLS) last issued its 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). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts predict that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is 41.58%.

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.