Flowserve Corporation (NYSE:FLS) Given Average Rating of "Buy" by Analysts

Key Points

• Flowserve Corporation (NYSE:FLS) has received an average analyst rating of "Buy", with eight out of ten analysts recommending to buy the stock and a 12-month price target of $65.78.
• The company recently announced a quarterly dividend of $0.21, representing a 1.6% yield, with the payment date set for October 10th.
• Flowserve reported earnings of $0.91 per share for its last quarter, surpassing analyst expectations, and indicated a projected earnings per share of 3.18 for the current year.

Flowserve Corporation (NYSE:FLS - Get Free Report) has been given an average rating of "Buy" by the ten research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $65.7778.

Several brokerages have weighed in on FLS. The Goldman Sachs Group lifted their target price on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Citigroup boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Robert W. Baird dropped their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Mizuho set a $60.00 price objective on Flowserve in a research note on Friday, May 16th.

Flowserve Stock Up 2.8%

Shares of Flowserve stock opened at $53.4270 on Monday. The business's fifty day moving average price is $52.60 and its two-hundred day moving average price is $50.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. The company has a market capitalization of $6.99 billion, a P/E ratio of 24.18, a PEG ratio of 1.11 and a beta of 1.28. Flowserve has a 1-year low of $37.34 and a 1-year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. As a group, research analysts forecast that Flowserve will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's payout ratio is currently 38.01%.

Insider Activity at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider owned 37,196 shares of the company's stock, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Flowserve

A number of hedge funds have recently modified their holdings of FLS. Mariner LLC grew its holdings in shares of Flowserve by 4.5% in the 4th quarter. Mariner LLC now owns 6,887 shares of the industrial products company's stock worth $396,000 after acquiring an additional 294 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Flowserve in the 4th quarter worth $212,000. First Trust Advisors LP grew its holdings in shares of Flowserve by 73.1% in the 4th quarter. First Trust Advisors LP now owns 189,696 shares of the industrial products company's stock worth $10,911,000 after acquiring an additional 80,138 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Flowserve by 218.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,125 shares of the industrial products company's stock worth $640,000 after acquiring an additional 7,633 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Flowserve by 6.5% in the 4th quarter. Stifel Financial Corp now owns 260,007 shares of the industrial products company's stock worth $14,956,000 after acquiring an additional 15,868 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.

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