Flowserve Corporation (NYSE:FLS) Receives Consensus Recommendation of "Buy" from Analysts

Flowserve Corporation (NYSE:FLS - Get Free Report) has received an average recommendation of "Buy" from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.00.

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th. Stifel Nicolaus boosted their price objective on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank Of Canada upped their price objective on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th.

Flowserve Price Performance

Shares of NYSE:FLS traded up $1.30 during midday trading on Friday, hitting $55.29. 3,161,042 shares of the stock were exchanged, compared to its average volume of 1,550,378. Flowserve has a twelve month low of $37.34 and a twelve month high of $65.08. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $49.11 and a 200-day moving average price of $52.27. The stock has a market cap of $7.23 billion, a P/E ratio of 25.84, a PEG ratio of 1.27 and a beta of 1.25.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, research analysts forecast that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.52%. Flowserve's payout ratio is currently 39.25%.

Hedge Funds Weigh In On Flowserve

A number of institutional investors and hedge funds have recently bought and sold shares of FLS. Headlands Technologies LLC lifted its position 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 in the last quarter. Park Square Financial Group LLC purchased a new stake in Flowserve during the 4th quarter worth $33,000. Colonial Trust Co SC lifted its holdings in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares in the last quarter. Signaturefd LLC boosted its position in Flowserve by 71.5% in the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock valued at $50,000 after buying an additional 429 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

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.