Flowserve Co. (NYSE:FLS) to Issue $0.21 Quarterly Dividend

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Tuesday, February 18th,RTT News reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.21 per share by the industrial products company on Friday, April 11th. This represents a $0.84 annualized dividend and a yield of 1.33%.

Flowserve has raised its dividend by an average of 1.6% per year over the last three years. Flowserve has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Flowserve to earn $3.21 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 26.2%.

Flowserve Trading Up 1.3 %

Flowserve stock opened at $63.10 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a 50-day moving average of $60.75 and a 200-day moving average of $55.55. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 1.27 and a beta of 1.42. Flowserve has a one year low of $41.60 and a one year high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. On average, equities analysts expect that Flowserve will post 2.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLS. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Robert W. Baird increased their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Stifel Nicolaus boosted their price objective on Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

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.