Flowserve Co. (FLS) to Issue Quarterly Dividend of $0.21 on July 12th

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Monday, May 20th, RTT News reports. Investors of record on Friday, June 28th will be paid a dividend of 0.21 per share by the industrial products company on Friday, July 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, June 28th.

Flowserve has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.09 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 27.2%.

Flowserve Stock Up 1.0 %

FLS stock opened at $50.42 on Wednesday. Flowserve has a twelve month low of $32.49 and a twelve month high of $50.49. The company has a market cap of $6.64 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. The business’s 50-day simple moving average is $47.02 and its 200 day simple moving average is $42.69. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The firm’s revenue was up 10.9% on a year-over-year basis. On average, research analysts anticipate that Flowserve will post 2.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLS has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird boosted their price target on shares of Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen boosted their price target on shares of Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Bank of America increased their target price on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Stifel Nicolaus raised their target price on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

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.