StockNews.com Lowers Flowserve (NYSE:FLS) to Buy

StockNews.com cut shares of Flowserve (NYSE:FLSFree Report) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Several other research analysts also recently weighed in on FLS. Robert W. Baird upped their price objective on shares of Flowserve from $46.00 to $50.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Stifel Nicolaus upped their target price on shares of Flowserve from $51.00 to $53.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Mizuho upped their target price on shares of Flowserve from $48.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Royal Bank of Canada upped their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 22nd. Finally, Citigroup upped their target price on shares of Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $48.25.

Check Out Our Latest Stock Report on Flowserve

Flowserve Stock Performance

FLS opened at $45.80 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average price is $44.52 and its two-hundred day moving average price is $41.01. Flowserve has a 1-year low of $32.05 and a 1-year high of $48.31. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.30 and a beta of 1.46.

Flowserve (NYSE:FLSGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. On average, analysts expect that Flowserve will post 2.55 EPS for the current fiscal year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.83%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is presently 59.57%.

Hedge Funds Weigh In On Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLS. Envestnet Asset Management Inc. purchased a new stake in shares of Flowserve in the first quarter worth about $208,000. Raymond James & Associates raised its stake in Flowserve by 70.7% in the first quarter. Raymond James & Associates now owns 113,597 shares of the industrial products company’s stock valued at $4,078,000 after purchasing an additional 47,032 shares in the last quarter. American Century Companies Inc. raised its stake in Flowserve by 15.1% in the first quarter. American Century Companies Inc. now owns 14,896 shares of the industrial products company’s stock valued at $535,000 after purchasing an additional 1,950 shares in the last quarter. US Bancorp DE raised its stake in Flowserve by 11.0% in the first quarter. US Bancorp DE now owns 8,139 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 807 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Flowserve by 3.2% in the first quarter. Bank of Montreal Can now owns 159,979 shares of the industrial products company’s stock valued at $5,667,000 after purchasing an additional 4,900 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

About Flowserve

(Get Free Report)

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.

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Analyst Recommendations for Flowserve (NYSE:FLS)

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