Flowserve Co. Plans Quarterly Dividend of $0.21 (NYSE:FLS)

Flowserve Co. (NYSE:FLS) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.21 per share by the industrial products company on Friday, January 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.36%.

Flowserve has a payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.7%.

Flowserve Stock Up 1.7 %

Shares of NYSE FLS traded up $1.05 during mid-day trading on Monday, reaching $61.67. The company had a trading volume of 568,972 shares, compared to its average volume of 1,104,093. Flowserve has a twelve month low of $39.21 and a twelve month high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market capitalization of $8.10 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. The stock’s 50 day moving average is $57.63 and its 200-day moving average is $51.59.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. As a group, equities analysts anticipate that Flowserve will post 2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLS has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the company from $55.00 to $69.00 in a report on Thursday. Citigroup upped their price objective on shares of Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and an average price target of $64.40.

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.