Flowserve Co. (NYSE:FLS) Receives $58.50 Consensus PT from Analysts

Shares of Flowserve Co. (NYSE:FLS) have received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.10.

Several research firms have commented on FLS. Robert W. Baird upped their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price target on Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America boosted their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday.

Flowserve Stock Performance

Shares of FLS opened at $52.64 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The stock has a 50-day moving average of $50.72 and a two-hundred day moving average of $48.98. The stock has a market cap of $6.93 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve has a one year low of $35.80 and a one year high of $55.90.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $0.50 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Flowserve will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.60%. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Investors Weigh In On Flowserve

Several institutional investors have recently bought and sold shares of FLS. AQR Capital Management LLC lifted its position in shares of Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after acquiring an additional 663,631 shares in the last quarter. Earnest Partners LLC raised its stake in Flowserve by 4.8% in the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after purchasing an additional 121,873 shares during the last quarter. Millennium Management LLC lifted its holdings in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Flowserve by 3.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock worth $123,112,000 after purchasing an additional 83,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Flowserve by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after buying an additional 169,506 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.