Flowserve (NYSE:FLS) Stock Gets Price Target Cut from Royal Bank Of Canada

Flowserve (NYSE:FLS) had its price target decreased by Royal Bank Of Canada from $94.00 to $88.00 in a report released on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other research firms have also commented on FLS. Stifel Nicolaus boosted their price objective on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. TD Cowen cut Flowserve from a “buy” rating to a “hold” rating and decreased their target price for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. The Goldman Sachs Group set a $82.00 target price on Flowserve in a research note on Thursday, July 30th. Robert W. Baird set a $93.00 target price on Flowserve in a research note on Friday, July 31st. Finally, Weiss Ratings cut Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.40.

Flowserve Stock Down 0.3%

Shares of FLS opened at $70.59 on Wednesday. The company has a market capitalization of $8.97 billion, a P/E ratio of 18.58, a PEG ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58. Flowserve has a one year low of $49.74 and a one year high of $92.41. The business’s 50 day simple moving average is $75.85 and its 200-day simple moving average is $75.25.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. Flowserve had a return on equity of 21.42% and a net margin of 8.01%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned $0.91 EPS. Flowserve’s revenue for the quarter was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, sell-side analysts predict that Flowserve will post 4.10 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 25th. Flowserve’s dividend payout ratio is 30.88%.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Flowserve during the 2nd quarter worth $999,631,000. PointState Capital LP bought a new position in Flowserve in the 2nd quarter valued at $196,837,000. Bank of New York Mellon Corp boosted its position in Flowserve by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company’s stock valued at $180,024,000 after buying an additional 118,254 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Flowserve in the 2nd quarter valued at $144,400,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Flowserve in the 2nd quarter valued at $84,869,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation is a global manufacturer of engineered flow-control products and services. The company designs and produces pumps, valves, mechanical seals, and related equipment used to move, control, and protect the flow of liquids and gases in industrial systems.

Its products and services support a range of industries, including oil and gas, chemical processing, power generation, water management, mining, and general industrial markets. Flowserve also provides aftermarket services such as maintenance, repair, replacement parts, equipment upgrades, and technical support to help customers maintain the performance and reliability of their flow-control systems.

Flowserve traces its corporate heritage to businesses with roots dating back to the late 18th century and has developed into an international company serving customers across North America, Europe, Asia, the Middle East, and other global markets.