Flowserve Co. (FLS) To Go Ex-Dividend on March 28th

Flowserve Co. (NYSE:FLS) declared a quarterly dividend on Tuesday, February 18th,RTT News reports. Stockholders of record on Friday, March 28th will be given a dividend of 0.21 per share by the industrial products company on Friday, April 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, March 28th.

Flowserve has increased its dividend payment by an average of 1.6% annually over the last three years. Flowserve has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Flowserve to earn $3.21 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 26.2%.

Flowserve Stock Performance

NYSE:FLS opened at $59.04 on Thursday. Flowserve has a 1 year low of $41.60 and a 1 year high of $65.08. The firm’s fifty day simple moving average is $60.75 and its 200 day simple moving average is $55.69. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $7.76 billion, a PE ratio of 29.23, a PEG ratio of 1.27 and a beta of 1.42.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. On average, sell-side analysts anticipate that Flowserve will post 2.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FLS. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Stifel Nicolaus raised their price target on shares of Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. TD Cowen raised their price target on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, Bank of America raised their price target on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

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.