Flowserve Co. (NYSE:FLS) Given Average Rating of “Buy” by Brokerages

Shares of Flowserve Co. (NYSE:FLS) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $68.60.

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Citigroup decreased their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada dropped their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th.

Hedge Funds Weigh In On Flowserve

A number of hedge funds and other institutional investors have recently made changes to their positions in FLS. True Wealth Design LLC bought a new position in Flowserve during the third quarter worth about $25,000. Headlands Technologies LLC raised its holdings in shares of Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after buying an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. Park Square Financial Group LLC acquired a new stake in Flowserve in the 4th quarter valued at $33,000. Finally, Colonial Trust Co SC boosted its stake in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after buying an additional 478 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Trading Up 0.7 %

Flowserve stock opened at $49.16 on Friday. Flowserve has a one year low of $43.66 and a one year high of $65.08. The company’s fifty day moving average price is $55.93 and its two-hundred day moving average price is $56.59. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. Flowserve’s dividend payout ratio is currently 39.25%.

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.