Brokerages Set Flowserve Co. (NYSE:FLS) Target Price at $37.13

Shares of Flowserve Co. (NYSE:FLSGet Rating) have earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $37.13.

Several equities analysts have recently commented on FLS shares. Stifel Nicolaus reduced their target price on Flowserve from $42.00 to $35.00 in a research note on Wednesday, May 4th. Citigroup raised their price target on Flowserve from $33.00 to $39.00 in a report on Monday, August 1st. Bank of America raised Flowserve from an “underperform” rating to a “neutral” rating and set a $31.00 target price on the stock in a report on Monday, July 11th. Finally, Royal Bank of Canada decreased their price target on Flowserve from $38.00 to $33.00 in a research report on Wednesday, May 4th.

Flowserve Stock Down 0.1 %

Shares of NYSE:FLS opened at $33.82 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.09 and a debt-to-equity ratio of 0.71. Flowserve has a 52-week low of $26.84 and a 52-week high of $42.28. The company has a 50 day moving average of $29.98 and a two-hundred day moving average of $31.91. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 46.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58.

Flowserve (NYSE:FLSGet Rating) last released its earnings results on Wednesday, July 27th. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $882.22 million during the quarter, compared to analysts’ expectations of $886.53 million. Flowserve had a return on equity of 8.12% and a net margin of 2.74%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. As a group, analysts forecast that Flowserve will post 1.52 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 24th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, June 23rd. Flowserve’s payout ratio is 109.59%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Flowserve by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,415,131 shares of the industrial products company’s stock worth $445,703,000 after buying an additional 61,518 shares during the period. BlackRock Inc. increased its position in shares of Flowserve by 0.8% during the first quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock valued at $387,485,000 after purchasing an additional 88,950 shares during the period. Beutel Goodman & Co Ltd. increased its position in shares of Flowserve by 2.8% during the first quarter. Beutel Goodman & Co Ltd. now owns 6,308,365 shares of the industrial products company’s stock valued at $226,470,000 after purchasing an additional 169,375 shares during the period. Nordea Investment Management AB bought a new stake in shares of Flowserve during the first quarter valued at approximately $182,253,000. Finally, Wellington Management Group LLP bought a new stake in shares of Flowserve during the first quarter valued at approximately $163,840,000. 97.65% of the stock is owned by institutional investors.

Flowserve Company Profile

(Get Rating)

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.

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Analyst Recommendations for Flowserve (NYSE:FLS)

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