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

Flowserve Co. (NYSE:FLS) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $56.11.

A number of equities analysts have issued reports on FLS shares. Royal Bank of Canada lifted their price objective on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus boosted their price target on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, TD Cowen boosted their price objective on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Flowserve Stock Performance

NYSE:FLS opened at $46.64 on Monday. The company has a fifty day moving average of $47.98 and a 200-day moving average of $47.25. The firm has a market capitalization of $6.13 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. Flowserve has a twelve month low of $35.31 and a twelve month high of $52.09.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Flowserve’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flowserve will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Trading of Flowserve

Hedge funds and other institutional investors have recently bought and sold shares of the company. Moody National Bank Trust Division boosted its stake in shares of Flowserve by 2.8% during the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 259 shares during the period. Toronto Dominion Bank raised its holdings in shares of Flowserve by 0.7% during the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after acquiring an additional 305 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Flowserve by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 426 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Flowserve by 0.3% during the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.