Flowserve Co. (NYSE:FLS) Receives Average Rating of “Buy” from Brokerages

Flowserve Co. (NYSE:FLS) has been assigned a consensus rating of “Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $68.60.

A number of research analysts recently issued reports on FLS shares. Stifel Nicolaus lifted their price target on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. TD Cowen raised their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th.

Flowserve Price Performance

Shares of Flowserve stock opened at $49.16 on Friday. Flowserve has a 1-year low of $43.66 and a 1-year high of $65.08. The firm’s 50-day moving average price is $55.93 and its two-hundred day moving average price is $56.59. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, equities analysts predict that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.71%. Flowserve’s dividend payout ratio is currently 39.25%.

Hedge Funds Weigh In On Flowserve

Several hedge funds have recently added to or reduced their stakes in FLS. Headlands Technologies LLC grew its position in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after buying an additional 479 shares during the period. True Wealth Design LLC bought a new position in Flowserve during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the third quarter valued at approximately $29,000. Park Square Financial Group LLC bought a new stake in Flowserve in the fourth quarter valued at approximately $33,000. Finally, Colonial Trust Co SC raised its holdings 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 purchasing an additional 478 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Flowserve

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.