Flowserve (NYSE:FLS) Stock Price Expected to Rise, Mizuho Analyst Says

Flowserve (NYSE:FLS) had its price target hoisted by Mizuho from $65.00 to $70.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also weighed in on FLS. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Stifel Nicolaus boosted their price target on shares of Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 24th. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, Citigroup dropped their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Performance

Shares of FLS stock opened at $57.47 on Thursday. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 1.28 and a beta of 1.42. Flowserve has a 1-year low of $41.60 and a 1-year high of $65.08. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $60.68 and its 200-day simple moving average is $55.70.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.11%. On average, sell-side analysts predict that Flowserve will post 3.21 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.46%. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Institutional Trading of Flowserve

Several large investors have recently made changes to their positions in FLS. State Street Corp raised its stake 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 acquiring an additional 37,132 shares in the last quarter. Vestcor Inc acquired a new position in Flowserve during the third quarter valued at approximately $714,000. Stifel Financial Corp raised its position in shares of Flowserve by 14.0% in the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after purchasing an additional 29,979 shares during the period. Algert Global LLC lifted its stake in shares of Flowserve by 130.3% in the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after buying an additional 61,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Flowserve by 34.0% in the third 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 last quarter. 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.