Flowserve Co. (NYSE:FLS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $47.75.

A number of equities analysts have recently weighed in on the company. Mizuho upped their target price on Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Robert W. Baird lifted their price objective on Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada boosted their price target on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Finally, Citigroup upped their price target on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 8th.

Flowserve Trading Down 0.0 %

Flowserve stock opened at $46.39 on Friday. The firm has a 50-day moving average price of $44.26 and a two-hundred day moving average price of $40.86. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.33 and a beta of 1.46. Flowserve has a 52-week low of $32.05 and a 52-week high of $48.31. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Flowserve will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio (DPR) is 59.57%.

Hedge Funds Weigh In On Flowserve

Several institutional investors have recently bought and sold shares of FLS. Wellington Management Group LLP bought a new stake in Flowserve in the first quarter valued at about $163,840,000. Norges Bank bought a new stake in Flowserve in the fourth quarter valued at about $59,261,000. Millennium Management LLC bought a new stake in Flowserve in the fourth quarter valued at about $25,041,000. Clearbridge Investments LLC bought a new stake in Flowserve in the third quarter valued at about $29,745,000. Finally, Alyeska Investment Group L.P. bought a new stake in Flowserve in the first quarter valued at about $18,741,000. Institutional investors own 93.93% of the company’s stock.

About Flowserve

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.