Flowserve Co. (NYSE:FLS – Get Free Report) declared a quarterly dividend on Thursday, August 15th, RTT News reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.21 per share by the industrial products company on Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, September 27th.
Flowserve has a dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.16 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 26.6%.
Flowserve Trading Up 0.0 %
Shares of FLS opened at $52.16 on Thursday. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.16 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. Flowserve has a 1-year low of $35.31 and a 1-year high of $53.86. The company has a 50-day moving average of $47.98 and a 200 day moving average of $47.65.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price target on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Finally, Bank of America restated a “buy” rating and set a $60.00 price objective on shares of Flowserve in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.11.
Check Out Our Latest Stock Analysis on FLS
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.
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