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

Key Points

• Flowserve Corporation (NYSE:FLS) has received an average recommendation of "Buy" from ten brokerage firms, with one analyst issuing a "strong buy" rating and one a "hold" recommendation.
• The average 12-month price target for Flowserve among analysts is $64.00, reflecting optimism in the stock's potential growth.
• Flowserve recently announced a quarterly dividend of $0.21 per share, with a dividend yield of 1.50%, indicating the company's financial health and commitment to returning value to shareholders.

Flowserve Corporation (NYSE:FLS - Get Free Report) has received a consensus rating of "Buy" from the ten brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $65.78.

A number of equities analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group increased their price target 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 report on Friday, June 6th. Mizuho set a $60.00 target price on Flowserve in a research report on Friday, May 16th. Finally, Stifel Nicolaus lifted their price target on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLS. American Century Companies Inc. raised its position in shares of Flowserve by 25.9% in the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after acquiring an additional 22,850 shares in the last quarter. LPL Financial LLC lifted its stake in Flowserve by 12.3% in the fourth quarter. LPL Financial LLC now owns 66,519 shares of the industrial products company's stock valued at $3,826,000 after buying an additional 7,302 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Flowserve by 22.0% during the 4th quarter. JPMorgan Chase & Co. now owns 353,387 shares of the industrial products company's stock worth $20,327,000 after buying an additional 63,686 shares in the last quarter. Norges Bank acquired a new stake in shares of Flowserve during the 4th quarter worth approximately $94,629,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Flowserve in the 4th quarter valued at $422,000. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

Shares of NYSE:FLS traded down $2.18 during trading on Thursday, reaching $53.86. 3,289,766 shares of the company traded hands, compared to its average volume of 2,127,260. The company's 50 day moving average is $51.26 and its two-hundred day moving average is $51.78. The firm has a market capitalization of $7.04 billion, a PE ratio of 24.37, a PEG ratio of 1.19 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. Flowserve has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates 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, sell-side analysts predict 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 was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, June 27th. Flowserve's dividend payout ratio (DPR) is currently 38.01%.

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.