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

Shares of Flowserve Co. (NYSE:FLS) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $66.10.

A number of analysts have commented on the stock. Robert W. Baird upped their target price on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd.

Flowserve Stock Up 1.4 %

FLS opened at $63.61 on Friday. 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 firm has a 50 day moving average price of $59.85 and a 200-day moving average price of $53.51. Flowserve has a twelve month low of $39.69 and a twelve month high of $63.86. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.17 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.32%. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Institutional Investors Weigh In On Flowserve

Several hedge funds and other institutional investors have recently made changes to their positions in FLS. Millennium Management LLC raised its stake in shares of Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the period. AQR Capital Management LLC raised its stake in shares of Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after acquiring an additional 663,631 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after acquiring an additional 606,416 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of Flowserve in the second quarter valued at $23,911,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after buying an additional 422,141 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

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.