Flowserve Co. (NYSE:FLS) Announces $0.21 Quarterly Dividend

Flowserve Co. (NYSE:FLS) declared a quarterly dividend on Monday, December 16th,RTT News reports. Investors of record on Friday, December 27th will be paid a dividend of 0.21 per share by the industrial products company on Friday, January 10th. This represents a $0.84 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, December 27th.

Flowserve has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.27 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 25.7%.

Flowserve Trading Down 2.3 %

Flowserve stock opened at $59.83 on Wednesday. Flowserve has a 1 year low of $39.21 and a 1 year high of $62.32. The firm’s 50 day moving average price is $57.77 and its two-hundred day moving average price is $51.68. 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 firm has a market cap of $7.86 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho upped their target price on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus raised their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird increased their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average price target of $64.40.

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.