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

Flowserve Corporation (NYSE:FLS - Get Free Report) has been assigned a consensus rating of "Buy" from the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $63.00.

A number of brokerages have issued reports on FLS. Royal Bank Of Canada boosted their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird reduced their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus boosted their price target on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, May 1st.

Flowserve Stock Performance

FLS stock traded up $1.30 during midday trading on Friday, reaching $55.29. 3,161,042 shares of the company's stock traded hands, compared to its average volume of 1,550,378. The company has a 50-day moving average price of $49.11 and a two-hundred day moving average price of $52.27. 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 has a 52 week low of $37.34 and a 52 week high of $65.08. The firm has a market capitalization of $7.23 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results 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. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

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 given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.52%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its stake in Flowserve by 4,790.0% in 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 during the last quarter. Park Square Financial Group LLC bought a new position in shares of Flowserve during the fourth quarter valued at about $33,000. Colonial Trust Co SC raised its stake in Flowserve by 415.7% in the fourth 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. True Wealth Design LLC boosted its position in Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.