Analysts Set Flowserve Co. (NYSE:FLS) PT at $64.40

Shares of Flowserve Co. (NYSE:FLS) have earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $64.30.

A number of brokerages recently commented on FLS. Stifel Nicolaus upped their target price on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Mizuho raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America increased their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Flowserve

A number of hedge funds have recently added to or reduced their stakes in FLS. True Wealth Design LLC bought a new stake in shares of Flowserve in the third quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in Flowserve in the 3rd quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve during the 3rd quarter valued at $29,000. Finally, Allworth Financial LP boosted its stake in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.7 %

Shares of Flowserve stock opened at $59.60 on Friday. The company’s 50 day moving average price is $59.58 and its 200-day moving average price is $53.15. Flowserve has a 52-week low of $39.37 and a 52-week high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 1.46 and a beta of 1.41.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities research analysts forecast that Flowserve will post 2.71 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is 41.58%.

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.