Flowserve (NYSE:FLS) PT Raised to $57.00 at Bank of America

Flowserve (NYSE:FLS) had its target price upped by Bank of America from $48.00 to $57.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on FLS. Stifel Nicolaus upped their price objective on shares of Flowserve from $51.00 to $53.00 and gave the company a buy rating in a report on Wednesday, April 17th. Royal Bank of Canada upped their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. StockNews.com cut shares of Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Citigroup increased their target price on Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their price target on Flowserve from $46.00 to $50.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Flowserve has an average rating of Moderate Buy and a consensus target price of $51.55.

Flowserve Trading Up 0.5 %

NYSE:FLS opened at $47.52 on Tuesday. Flowserve has a 12 month low of $32.49 and a 12 month high of $49.35. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $45.45 and its 200 day moving average is $41.57. The stock has a market capitalization of $6.26 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts expect that Flowserve will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.21 dividend. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, March 27th. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Trading of Flowserve

Large investors have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new stake in Flowserve during the first quarter valued at approximately $874,000. Chase Investment Counsel Corp lifted its holdings in shares of Flowserve by 58.0% during the 1st quarter. Chase Investment Counsel Corp now owns 105,147 shares of the industrial products company’s stock worth $4,803,000 after acquiring an additional 38,586 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Flowserve in the first quarter worth $87,000. Janney Montgomery Scott LLC increased its stake in Flowserve by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 31,471 shares of the industrial products company’s stock valued at $1,438,000 after acquiring an additional 2,013 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Flowserve by 20.9% in the first quarter. BNP Paribas Financial Markets now owns 79,494 shares of the industrial products company’s stock valued at $3,631,000 after acquiring an additional 13,738 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

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.