Flowserve Co. (NYSE:FLS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Flowserve Co. (NYSE:FLS) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com 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 twelve-month target price among analysts that have issued a report on the stock in the last year is $64.40.

FLS has been the topic of several recent research reports. Bank of America increased their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Stifel Nicolaus upped their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Mizuho upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th.

Flowserve Price Performance

FLS opened at $59.83 on Wednesday. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.48 and a beta of 1.41. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve has a 12-month low of $39.21 and a 12-month high of $62.32. The business’s fifty day simple moving average is $57.77 and its 200-day simple moving average is $51.68.

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

Flowserve Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.40%. Flowserve’s payout ratio is currently 41.58%.

Hedge Funds Weigh In On Flowserve

A number of institutional investors and hedge funds have recently bought and sold shares of FLS. True Wealth Design LLC acquired a new position in shares of Flowserve in the 3rd quarter worth approximately $25,000. Signaturefd LLC increased its position in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve in the 3rd quarter valued at approximately $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the third quarter valued at about $29,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.