Brokerages Set Flowserve Co. (NYSE:FLS) PT at $63.00

Flowserve Co. (NYSE:FLS - Get Free Report) has earned a consensus rating of "Buy" from the ten research firms that are currently covering the firm, MarketBeat reports. One 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 analysts that have issued a report on the stock in the last year is $63.00.

Several brokerages have recently commented on FLS. Mizuho set a $60.00 price objective on shares of Flowserve in a research report on Friday, May 16th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup reduced their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted 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, Royal Bank of Canada lifted 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.

Flowserve Trading Down 2.7%

Shares of FLS stock traded down $1.28 during trading hours on Wednesday, hitting $46.46. 2,454,181 shares of the company were exchanged, compared to its average volume of 1,407,957. The firm has a market cap of $6.07 billion, a P/E ratio of 21.71, a P/E/G ratio of 1.35 and a beta of 1.26. Flowserve has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. 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 company has a 50 day simple moving average of $46.85 and a two-hundred day simple moving average of $53.39.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. Equities analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Hedge Funds Weigh In On Flowserve

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC lifted its stake in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 479 shares in the last quarter. Park Square Financial Group LLC bought a new position in Flowserve during the 4th quarter valued at $33,000. Colonial Trust Co SC lifted its stake in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 478 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after purchasing an additional 394 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares during the period. 93.93% of the stock is currently 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.