Flowserve Co. (NYSE:FLS) Receives $64.40 Consensus Target Price from Analysts

Flowserve Co. (NYSE:FLS) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $66.10.

Several analysts have commented on the stock. Mizuho increased their price target 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. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Robert W. Baird increased their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 target price on the stock. Finally, 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 research note on Thursday.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in shares of Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Vestcor Inc acquired a new position in Flowserve in the 3rd quarter valued at about $714,000. Stifel Financial Corp lifted its holdings in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after purchasing an additional 29,979 shares during the period. Millennium Management LLC lifted its stake in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after acquiring an additional 1,596,429 shares during the period. Finally, Interval Partners LP boosted its holdings in Flowserve by 60.1% in the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock valued at $44,593,000 after purchasing an additional 348,107 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $62.76 on Friday. The firm has a 50 day moving average of $59.77 and a 200 day moving average of $53.35. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. Flowserve has a 52 week low of $39.37 and a 52 week high of $63.23.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 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 during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Flowserve will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

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.