Shares of Flowserve Corp (NYSE:FLS) have received a consensus rating of “Hold” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $48.86.
A number of analysts have commented on the stock. BMO Capital Markets increased their price target on shares of Flowserve from $42.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Northcoast Research reiterated a “neutral” rating on shares of Flowserve in a research note on Thursday, August 9th. Robert W. Baird reiterated a “hold” rating and issued a $47.00 price target on shares of Flowserve in a research note on Friday, July 20th. Citigroup increased their price target on shares of Flowserve from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Royal Bank of Canada increased their price target on shares of Flowserve from $40.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th.
Flowserve stock opened at $45.90 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. Flowserve has a 1-year low of $37.71 and a 1-year high of $56.86. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89.
Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The firm had revenue of $973.13 million during the quarter, compared to analysts’ expectations of $923.89 million. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. On average, research analysts anticipate that Flowserve will post 1.7 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 21st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Thursday, September 20th. Flowserve’s dividend payout ratio is presently 55.88%.
Several hedge funds and other institutional investors have recently bought and sold shares of FLS. Zurich Insurance Group Ltd FI acquired a new stake in shares of Flowserve during the 2nd quarter worth about $131,000. Point72 Hong Kong Ltd acquired a new stake in shares of Flowserve during the 2nd quarter worth about $163,000. Tower Research Capital LLC TRC acquired a new stake in shares of Flowserve during the 2nd quarter worth about $174,000. D.A. Davidson & CO. acquired a new stake in shares of Flowserve during the 2nd quarter worth about $216,000. Finally, Visionary Asset Management Inc. acquired a new stake in shares of Flowserve during the 3rd quarter worth about $218,000.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
Further Reading: Initial Public Offering (IPO)
Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.