Shares of Flowserve Corp (NYSE:FLS) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $57.86.
FLS has been the topic of several recent research reports. BMO Capital Markets dropped their target price on Flowserve Corp from $47.00 to $46.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 21st. Royal Bank of Canada set a $43.00 target price on Flowserve Corp and gave the stock a “sell” rating in a research report on Monday, February 20th. Stifel Nicolaus restated a “buy” rating and set a $53.00 target price (down previously from $55.00) on shares of Flowserve Corp in a research report on Tuesday, February 21st. Seaport Global Securities upgraded Flowserve Corp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $48.00 to $60.00 in a research report on Monday, January 23rd. Finally, Robert W. Baird upgraded Flowserve Corp from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Wednesday, March 15th.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLS. Harbour Capital Advisors LLC purchased a new position in Flowserve Corp during the first quarter worth approximately $116,000. Ameritas Investment Partners Inc. purchased a new position in Flowserve Corp during the first quarter worth approximately $151,000. Mn Services Vermogensbeheer B.V. boosted its position in Flowserve Corp by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock worth $157,000 after buying an additional 174 shares in the last quarter. Macquarie Group Ltd. boosted its position in Flowserve Corp by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock worth $158,000 after buying an additional 100 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in Flowserve Corp by 12.8% in the fourth quarter. Federated Investors Inc. PA now owns 3,398 shares of the industrial products company’s stock worth $163,000 after buying an additional 386 shares in the last quarter. 98.48% of the stock is currently owned by institutional investors and hedge funds.
Flowserve Corp (NYSE:FLS) traded up 1.13% during mid-day trading on Friday, reaching $49.11. The company had a trading volume of 1,674,408 shares. Flowserve Corp has a one year low of $39.13 and a one year high of $52.50. The company’s 50-day moving average is $49.04 and its 200-day moving average is $48.17. The stock has a market capitalization of $6.41 billion, a PE ratio of 52.81 and a beta of 1.58.
Flowserve Corp (NYSE:FLS) last posted its quarterly earnings data on Monday, May 1st. The industrial products company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Flowserve Corp had a return on equity of 17.93% and a net margin of 3.60%. The business had revenue of $863.63 million for the quarter, compared to the consensus estimate of $817.56 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. Flowserve Corp’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts anticipate that Flowserve Corp will post $1.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be paid a $0.19 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. Flowserve Corp’s dividend payout ratio is presently 66.09%.
About Flowserve Corp
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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