Royal Bank of Canada reiterated their sell rating on shares of Flowserve (NYSE:FLS) in a research report released on Thursday morning. Royal Bank of Canada currently has a $39.00 price objective on the industrial products company’s stock.
Several other research analysts have also commented on the stock. Goldman Sachs Group lowered shares of Flowserve from a neutral rating to a sell rating and lowered their price objective for the company from $42.65 to $37.00 in a research note on Thursday, December 7th. Seaport Global Securities lowered shares of Flowserve from a buy rating to a neutral rating and lowered their price objective for the company from $60.00 to $40.00 in a research note on Friday, November 3rd. Boenning Scattergood reissued a hold rating on shares of Flowserve in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Flowserve from a strong sell rating to a hold rating in a research note on Wednesday, October 18th. Finally, Robert W. Baird reissued a hold rating and issued a $45.00 price objective on shares of Flowserve in a research note on Friday, December 15th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Flowserve has a consensus rating of Hold and an average target price of $43.58.
Flowserve (NYSE:FLS) traded up $0.03 during midday trading on Thursday, hitting $43.45. 519,459 shares of the stock traded hands, compared to its average volume of 874,833. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. Flowserve has a twelve month low of $37.51 and a twelve month high of $52.10. The stock has a market capitalization of $5,680.00, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.57 and a beta of 1.53.
Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The business had revenue of $883.38 million during the quarter, compared to analyst estimates of $871.20 million. During the same quarter last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. analysts forecast that Flowserve will post 1.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.76 dividend on an annualized basis and a yield of 1.75%. Flowserve’s dividend payout ratio is currently 61.79%.
A number of institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake in Flowserve by 2.2% in the third quarter. First Eagle Investment Management LLC now owns 13,059,375 shares of the industrial products company’s stock worth $556,199,000 after acquiring an additional 276,377 shares during the last quarter. Vanguard Group Inc. raised its holdings in Flowserve by 2.2% during the second quarter. Vanguard Group Inc. now owns 12,843,068 shares of the industrial products company’s stock worth $596,303,000 after purchasing an additional 272,324 shares in the last quarter. BlackRock Inc. raised its holdings in Flowserve by 2.8% during the second quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock worth $380,483,000 after purchasing an additional 222,016 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in Flowserve by 22.2% during the second quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after purchasing an additional 1,146,084 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Flowserve by 9.2% during the third quarter. Gamco Investors INC. ET AL now owns 2,816,277 shares of the industrial products company’s stock worth $119,945,000 after purchasing an additional 236,752 shares in the last quarter.
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Flowserve Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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