Flowserve Corporation (NYSE:FLS) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Flowserve Corporation has received a consensus recommendation of "Buy" from eleven research firms, with an average 12-month target price of $65.78.
• The company reported earnings of $0.91 per share for the last quarter, exceeding the consensus estimate by 13 cents, despite revenue of $1.19 billion falling short of estimates.
• Flowserve recently declared a quarterly dividend of $0.21 per share, translating to an annual yield of 1.7% with a payout ratio of 38.01%.

Flowserve Corporation (NYSE:FLS - Get Free Report) has earned a consensus recommendation of "Buy" from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $65.7778.

Several equities analysts have recently weighed in on FLS shares. Royal Bank Of Canada increased their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Citigroup raised their price target 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Flowserve in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd.

Flowserve Price Performance

Shares of FLS opened at $50.22 on Tuesday. The firm has a market capitalization of $6.57 billion, a PE ratio of 22.72, a PEG ratio of 1.00 and a beta of 1.27. The company's 50-day moving average is $53.89 and its 200-day moving average is $50.61. 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 0.63, a current ratio of 2.10 and a quick ratio of 1.50.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. Equities analysts forecast that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 26th. Flowserve's dividend payout ratio (DPR) is currently 38.01%.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company's stock, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Flowserve

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in Flowserve by 0.4% during the first quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company's stock worth $14,763,000 after buying an additional 1,103 shares in the last quarter. KBC Group NV grew its stake in Flowserve by 4.8% during the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock worth $277,000 after buying an additional 258 shares in the last quarter. GAMMA Investing LLC grew its stake in Flowserve by 26.6% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock worth $112,000 after buying an additional 481 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Flowserve during the first quarter worth about $216,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Flowserve by 453.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock worth $8,402,000 after buying an additional 139,939 shares in the last quarter. 93.93% of the stock is 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.

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