Brokerages Set Flowserve Corp (FLS) Price Target at $43.09

Flowserve Corp (NYSE:FLS) has received an average recommendation of “Hold” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $43.36.

FLS has been the topic of several recent research reports. KeyCorp reiterated a “hold” rating on shares of Flowserve in a research note on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and issued a $43.00 price target on shares of Flowserve in a research note on Wednesday, October 4th. Citigroup reiterated a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Flowserve in a research note on Monday, October 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price target on shares of Flowserve in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Flowserve from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 18th.

Shares of Flowserve (FLS) traded up $1.24 during mid-day trading on Monday, reaching $43.42. 1,200,400 shares of the company’s stock traded hands, compared to its average volume of 874,833. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. Flowserve has a 12-month low of $37.51 and a 12-month high of $52.10. The firm has a market cap of $5,670.00, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.58 and a beta of 1.53.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The firm had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. equities analysts expect that Flowserve will post 1.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, January 4th. Flowserve’s dividend payout ratio (DPR) is presently 61.79%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC grew its position in shares of Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 126 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Flowserve during the 3rd quarter worth about $1,799,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Flowserve during the 2nd quarter worth about $840,000. Permian Investment Partners LP bought a new stake in shares of Flowserve during the 3rd quarter worth about $28,535,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Flowserve during the 2nd quarter worth about $458,000.

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Flowserve Company Profile

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.

Analyst Recommendations for Flowserve (NYSE:FLS)

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