Flowserve Corp (NYSE:FLS) had its price target upped by BMO Capital Markets from $53.00 to $56.00 in a research note published on Thursday, May 4th. They currently have an outperform rating on the industrial products company’s stock.
Several other analysts have also recently weighed in on FLS. Royal Bank of Canada reissued a sell rating and issued a $38.00 price objective on shares of Flowserve Corp in a research note on Thursday, January 5th. Seaport Global Securities raised shares of Flowserve Corp from a neutral rating to a buy rating and upped their price target for the company from $48.00 to $60.00 in a research report on Monday, January 23rd. Bank of America Corp raised shares of Flowserve Corp from a neutral rating to a buy rating in a research report on Wednesday, February 8th. Stifel Nicolaus reiterated a buy rating and set a $53.00 price objective (down previously from $55.00) on shares of Flowserve Corp in a report on Tuesday, February 21st. Finally, Zacks Investment Research lowered shares of Flowserve Corp from a hold rating to a strong sell rating in a report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $57.86.
Flowserve Corp (NYSE:FLS) traded up 1.13% during mid-day trading on Thursday, hitting $49.11. The stock had a trading volume of 1,674,408 shares. Flowserve Corp has a 1-year low of $39.13 and a 1-year high of $52.50. The stock has a 50 day moving average of $49.07 and a 200-day moving average of $48.22. The firm has a market cap of $6.41 billion, a P/E ratio of 52.81 and a beta of 1.58.
Flowserve Corp (NYSE:FLS) last issued its quarterly earnings data on Monday, May 1st. The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Flowserve Corp had a net margin of 3.60% and a return on equity of 17.93%. The company had revenue of $863.63 million for the quarter, compared to analysts’ expectations of $817.56 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Flowserve Corp’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts predict that Flowserve Corp will post $1.77 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.55%. Flowserve Corp’s dividend payout ratio (DPR) is presently 66.09%.
A number of hedge funds and other institutional investors have recently modified their holdings of FLS. Bank of Nova Scotia purchased a new position in shares of Flowserve Corp during the first quarter valued at about $1,301,000. YG Partners LLC purchased a new position in shares of Flowserve Corp during the first quarter valued at about $1,627,000. Harbour Capital Advisors LLC purchased a new position in shares of Flowserve Corp during the first quarter valued at about $116,000. HighTower Advisors LLC boosted its position in shares of Flowserve Corp by 22.3% in the first quarter. HighTower Advisors LLC now owns 14,434 shares of the industrial products company’s stock valued at $702,000 after buying an additional 2,635 shares during the period. Finally, Blue Sky Asset Management LLC purchased a new position in shares of Flowserve Corp during the first quarter valued at about $643,000. 98.48% of the stock is owned by institutional investors and hedge funds.
Flowserve Corp Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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