Flowserve Co. (NYSE:FLS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Flowserve Co. (NYSE:FLS) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $68.60.

Several equities research analysts have issued reports on the company. Mizuho raised their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. TD Cowen lifted their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLS. Comprehensive Money Management Services LLC acquired a new stake in Flowserve during the fourth quarter worth about $263,000. Park Square Financial Group LLC bought a new stake in shares of Flowserve during the 4th quarter worth approximately $33,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Flowserve during the 4th quarter worth approximately $13,938,000. ABLE Financial Group LLC increased its stake in Flowserve by 10.6% in the fourth quarter. ABLE Financial Group LLC now owns 18,761 shares of the industrial products company’s stock valued at $1,079,000 after acquiring an additional 1,796 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in Flowserve by 1,577.1% during the fourth quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 1,309 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of FLS stock opened at $48.44 on Monday. The company has a fifty day moving average price of $59.35 and a two-hundred day moving average price of $56.34. Flowserve has a one year low of $43.00 and a one year high of $65.08. The stock has a market cap of $6.38 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, equities analysts predict that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. Flowserve’s payout ratio is 39.25%.

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.