Flowserve Co. (FLS) To Go Ex-Dividend on December 27th

Flowserve Co. (NYSE:FLS) declared a quarterly dividend on Monday, December 16th,RTT News reports. Investors of record on Friday, December 27th will be paid a dividend of 0.21 per share by the industrial products company on Friday, January 10th. This represents a $0.84 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, December 27th.

Flowserve has a payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.7%.

Flowserve Price Performance

FLS opened at $58.45 on Wednesday. Flowserve has a 1 year low of $39.21 and a 1 year high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The company’s 50 day simple moving average is $58.26 and its 200 day simple moving average is $52.11. The stock has a market capitalization of $7.68 billion, a PE ratio of 28.94, a P/E/G ratio of 1.48 and a beta of 1.41.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned $0.50 EPS. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Flowserve will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

FLS has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. Citigroup increased their price objective on shares of Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.40.

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.