Flowserve Corporation (FLS) to Issue Quarterly Dividend of $0.21 on January 9th

Flowserve Corporation (NYSE:FLS) declared a quarterly dividend on Friday, December 12th. Stockholders of record on Friday, December 26th will be given a dividend of 0.21 per share by the industrial products company on Friday, January 9th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 26th.

Flowserve has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Flowserve has a payout ratio of 23.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $3.71 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 22.6%.

Flowserve Trading Down 0.7%

Shares of FLS stock opened at $71.15 on Wednesday. The company has a market capitalization of $9.04 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30. Flowserve has a 52-week low of $37.34 and a 52-week high of $74.63. The business’s fifty day moving average is $66.27 and its 200 day moving average is $57.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10.

Flowserve (NYSE:FLS) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company earned $0.62 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, equities research analysts anticipate that Flowserve will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FLS shares. Citigroup raised their target price on shares of Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Bank of America reissued a “neutral” rating and issued a $73.00 price target (up previously from $60.00) on shares of Flowserve in a report on Friday, November 14th. The Goldman Sachs Group lifted their price objective on shares of Flowserve from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price target on Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.20.

Flowserve Company Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.