Flowserve Co. (NYSE:FLS) Receives $64.30 Average Price Target from Brokerages

Shares of Flowserve Co. (NYSE:FLS - Get Free Report) have earned a consensus rating of "Buy" from the eleven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $64.30.

FLS has been the topic of a number of recent analyst reports. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Stifel Nicolaus cut their price objective on Flowserve from $77.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank of Canada decreased their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Finally, Mizuho upped their target price on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th.

Hedge Funds Weigh In On Flowserve

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC boosted its holdings in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after purchasing an additional 479 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve in the 3rd quarter worth approximately $29,000. Park Square Financial Group LLC bought a new stake in shares of Flowserve in the 4th quarter worth approximately $33,000. Colonial Trust Co SC increased its stake in shares of Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after buying an additional 478 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

NYSE FLS traded up $0.27 on Tuesday, hitting $44.89. The stock had a trading volume of 1,262,659 shares, compared to its average volume of 1,273,322. The firm has a 50-day moving average of $47.86 and a 200-day moving average of $55.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Equities analysts expect that Flowserve will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. Flowserve's dividend payout ratio is currently 39.25%.

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.