Flowserve Corporation (NYSE:FLS) Given Average Recommendation of "Buy" by Brokerages

Flowserve Corporation (NYSE:FLS - Get Free Report) has received a consensus recommendation of "Buy" from the ten ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $62.00.

A number of research analysts have issued reports on the company. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird lowered their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Royal Bank Of Canada raised their target price on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st.

Flowserve Price Performance

Shares of NYSE FLS traded up $0.54 during midday trading on Friday, reaching $53.91. 2,246,917 shares of the company traded hands, compared to its average volume of 1,578,451. The firm has a market cap of $7.05 billion, a PE ratio of 25.19, a PEG ratio of 1.18 and a beta of 1.25. The stock's 50-day simple moving average is $49.61 and its 200-day simple moving average is $52.21. Flowserve has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The business's revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. As a group, equities analysts anticipate that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.56%. Flowserve's payout ratio is 39.25%.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLS. Nuveen LLC acquired a new stake in Flowserve in the first quarter worth about $111,598,000. FIL Ltd increased its position in Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the period. Norges Bank acquired a new stake in Flowserve in the fourth quarter worth about $94,629,000. Driehaus Capital Management LLC increased its position in Flowserve by 307.1% in the fourth quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock worth $108,651,000 after purchasing an additional 1,424,948 shares during the period. Finally, Erste Asset Management GmbH grew its position in shares of Flowserve by 978.8% during the 1st quarter. Erste Asset Management GmbH now owns 1,003,800 shares of the industrial products company's stock worth $49,025,000 after buying an additional 910,750 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.