Flowserve Co. (NYSE:FLS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Flowserve Co. (NYSE:FLS) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $66.10.

A number of research analysts have recently issued reports on FLS shares. Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday. Stifel Nicolaus lifted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd.

Flowserve Stock Up 3.4 %

Shares of NYSE FLS opened at $62.76 on Friday. The firm has a market cap of $8.25 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve has a 1 year low of $39.37 and a 1 year high of $63.23. The firm’s 50 day moving average price is $59.77 and its 200 day moving average price is $53.35.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. As a group, sell-side analysts anticipate that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Flowserve in the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in shares of Flowserve in the 3rd quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the third quarter valued at about $29,000. Finally, Allworth Financial LP boosted its stake in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 403 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

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.