Flowserve Co. (NYSE:FLS) Plans Quarterly Dividend of $0.21

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Monday, May 20th, RTT News reports. Stockholders 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 1.77%. The ex-dividend date is Friday, June 28th.

Flowserve has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.2 %

NYSE FLS opened at $47.56 on Thursday. The stock has a market capitalization of $6.26 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The firm has a 50 day moving average of $48.17 and a two-hundred day moving average of $44.51. 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 has a 52 week low of $35.31 and a 52 week high of $50.49.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, research analysts expect that Flowserve will post 2.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FLS shares. StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 12th. TD Cowen raised their price target on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. UBS Group upped their price objective on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup lifted their target price on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus upped their price target on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.55.

Insider Activity

In related news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the transaction, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Flowserve Company Profile

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.