Flowserve Corp (FLS) Receives $48.86 Average Target Price from Analysts

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.

About Flowserve

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)

Analyst Recommendations for Flowserve (NYSE:FLS)

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