Flowserve Co. (NYSE:FLS) Receives Consensus Rating of “Hold” from Brokerages

Flowserve Co. (NYSE:FLS – Get Rating) has earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $35.00.

FLS has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 price target on shares of Flowserve in a report on Thursday, February 23rd. Stifel Nicolaus raised their price target on shares of Flowserve from $37.00 to $38.00 and gave the company a “buy” rating in a report on Friday, January 20th. Bank of America raised shares of Flowserve from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $40.00 in a report on Monday, January 30th. They noted that the move was a valuation call. TheStreet raised shares of Flowserve from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Finally, StockNews.com began coverage on shares of Flowserve in a research note on Thursday. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. increased its stake in Flowserve by 79.5% in the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock valued at $49,000 after buying an additional 700 shares during the last quarter. Captrust Financial Advisors increased its holdings in Flowserve by 26.9% during the first quarter. Captrust Financial Advisors now owns 1,770 shares of the industrial products company’s stock worth $64,000 after buying an additional 375 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in Flowserve by 222.4% in the second quarter. Eagle Bay Advisors LLC now owns 1,783 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 1,230 shares during the last quarter. Gyon Technologies Capital Management LP bought a new position in shares of Flowserve in the 4th quarter valued at about $58,000. Finally, Macquarie Group Ltd. increased its stake in shares of Flowserve by 22.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,290 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 417 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Flowserve Stock Performance

NYSE:FLS opened at $31.35 on Thursday. Flowserve has a 12-month low of $23.89 and a 12-month high of $37.59. The company has a quick ratio of 1.33, a current ratio of 1.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $4.11 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.61. The firm has a 50-day moving average price of $34.03 and a 200 day moving average price of $30.77.

Flowserve (NYSE:FLS – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.20. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Flowserve had a net margin of 5.22% and a return on equity of 8.14%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Research analysts anticipate that Flowserve will post 1.66 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 7th. Investors of record on Friday, March 24th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $0.80 annualized dividend and a yield of 2.55%. Flowserve’s dividend payout ratio is currently 55.94%.

Flowserve Company Profile

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Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.