Research analysts at RBC Capital lifted their price objective on shares of Flowserve Corp. (NYSE:FLS) from $65.00 to $80.00 in a report released on Monday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price suggests a potential upside of 12.33% from the company’s current price.
Shares of Flowserve Corp. (NYSE:FLS) opened at 71.22 on Monday. Flowserve Corp. has a 1-year low of $42.0667 and a 1-year high of $61.71. The stock has a 50-day moving average of $57.4 and a 200-day moving average of $55.28. The company has a market cap of $9.859 billion and a P/E ratio of 21.22.
Flowserve Corp. (NYSE:FLS) last announced its earnings results on Friday, October 25th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.06. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Flowserve Corp. will post $3.43 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FLS. Analysts at BB&T Corp. raised their price target on shares of Flowserve Corp. to $73.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Merrill Lynch initiated coverage on shares of Flowserve Corp. in a research note to investors on Wednesday, October 16th. They set a “buy” rating on the stock. Finally, analysts at Bank of America Corp. initiated coverage on shares of Flowserve Corp. in a research note to investors on Wednesday, October 16th. They set a “buy” rating and a $72.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $118.21.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufacture precision-engineered flows control equipment integral to the movement, control and protection of the flow of materials in its customers’ critical processes.
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