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

Shares of Flowserve Co. (NYSE:FLS) have been given an average recommendation of “Buy” by the ten analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $63.00.

FLS has been the topic of several research reports. Citigroup dropped their price target on Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Royal Bank of Canada upped their price target on Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their price target on Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Mizuho set a $60.00 price target on Flowserve in a research report on Friday, May 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLS. Barclays PLC grew its stake in Flowserve by 17.8% during the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company’s stock worth $11,857,000 after buying an additional 34,645 shares during the last quarter. Oak Thistle LLC bought a new position in Flowserve during the 4th quarter worth $313,000. USA Financial Formulas bought a new position in Flowserve during the 4th quarter worth $295,000. Merit Financial Group LLC bought a new position in Flowserve during the 4th quarter worth $613,000. Finally, UMB Bank n.a. grew its stake in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of FLS opened at $49.48 on Friday. The business’s 50 day moving average is $46.63 and its two-hundred day moving average is $54.68. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.58 EPS. Flowserve’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.70%. Flowserve’s payout ratio is currently 39.25%.

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.