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

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Tuesday, February 18th, RTT News reports. Shareholders 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 yield of 1.60%. The ex-dividend date is Friday, March 28th.

Flowserve has raised its dividend payment by an average of 1.6% per year over the last three years. Flowserve has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $3.71 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 22.6%.

Flowserve Stock Performance

Flowserve stock opened at $52.45 on Wednesday. The firm has a 50-day moving average price of $57.27 and a two-hundred day moving average price of $56.46. Flowserve has a 52-week low of $43.66 and a 52-week high of $65.08. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.35 and a beta of 1.43. 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 issued its quarterly earnings data 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Sell-side analysts expect that Flowserve will post 3.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLS. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research note on Monday, March 17th. Stifel Nicolaus boosted their price target on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Royal Bank of Canada cut their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $68.60.

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.