Flowserve (NYSE:FLS) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Flowserve (NYSE:FLS) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research firms have also issued reports on FLS. Mizuho lifted their price target on shares of Flowserve from $48.00 to $50.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Citigroup raised their price objective on Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada increased their price target on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 22nd. Robert W. Baird lifted their price objective on shares of Flowserve from $46.00 to $50.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Flowserve from $51.00 to $53.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve has a consensus rating of Moderate Buy and an average price target of $49.22.

Flowserve Trading Down 0.1 %

Shares of FLS opened at $47.17 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.33 and a beta of 1.46. The company has a 50-day moving average of $45.14 and a 200 day moving average of $41.43. Flowserve has a 1-year low of $32.49 and a 1-year high of $49.35.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. On average, research analysts expect that Flowserve will post 2.55 EPS for the current year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.21 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.78%. Flowserve’s payout ratio is presently 59.57%.

Institutional Trading of Flowserve

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its position in shares of Flowserve by 61.3% during the 3rd quarter. National Bank of Canada FI now owns 2,564 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 974 shares during the last quarter. CWM LLC boosted its stake in Flowserve by 153.0% during the 3rd quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 1,201 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Flowserve by 92.6% in the third quarter. Commonwealth Equity Services LLC now owns 15,667 shares of the industrial products company’s stock valued at $623,000 after buying an additional 7,533 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Flowserve by 9.7% in the third quarter. Raymond James & Associates now owns 431,223 shares of the industrial products company’s stock worth $17,150,000 after buying an additional 38,242 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Flowserve during the third quarter worth about $2,053,000. 93.93% of the stock is 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.