Flowserve Corp (NYSE:FLS)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a report issued on Tuesday, StockTargetPrices.com reports. They currently have a $90.00 target price on the stock. Jefferies Group LLC’s target price points to a potential upside of 91.61% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus lifted their price objective on Flowserve Corp from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, December 5th. Robert W. Baird cut Flowserve Corp from a “neutral” rating to an “underperform” rating and set a $42.00 price objective for the company. in a report on Monday, December 12th. Seaport Global Securities raised Flowserve Corp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $60.00 in a report on Monday, January 23rd. Bank of America Corp raised Flowserve Corp from a “neutral” rating to a “buy” rating in a report on Wednesday, February 8th. Finally, Royal Bank of Canada reaffirmed a “sell” rating and issued a $38.00 price objective on shares of Flowserve Corp in a report on Thursday, January 5th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $52.50.
Flowserve Corp (NYSE:FLS) traded up 0.53% during trading on Tuesday, reaching $47.22. The company had a trading volume of 948,428 shares. The firm’s 50 day moving average price is $47.71 and its 200 day moving average price is $47.30. Flowserve Corp has a 12-month low of $39.13 and a 12-month high of $52.50. The firm has a market capitalization of $6.16 billion, a PE ratio of 42.54 and a beta of 1.58.
Flowserve Corp (NYSE:FLS) last announced its quarterly earnings data on Thursday, February 16th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.07. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Flowserve Corp had a return on equity of 17.93% and a net margin of 3.60%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. Analysts anticipate that Flowserve Corp will post $1.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 7th. Stockholders of record on Friday, March 24th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 22nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. Flowserve Corp’s dividend payout ratio (DPR) is currently 66.09%.
Several institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Flowserve Corp by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,478 shares of the company’s stock worth $359,000 after buying an additional 32 shares during the period. Creative Planning boosted its position in Flowserve Corp by 1.3% in the third quarter. Creative Planning now owns 2,767 shares of the company’s stock worth $133,000 after buying an additional 35 shares during the period. Neuberger Berman Group LLC boosted its position in Flowserve Corp by 1.8% in the third quarter. Neuberger Berman Group LLC now owns 5,055 shares of the company’s stock worth $244,000 after buying an additional 90 shares during the period. Arizona State Retirement System boosted its position in Flowserve Corp by 0.3% in the third quarter. Arizona State Retirement System now owns 32,092 shares of the company’s stock worth $1,548,000 after buying an additional 100 shares during the period. Finally, Highlander Capital Management LLC boosted its position in Flowserve Corp by 0.6% in the third quarter. Highlander Capital Management LLC now owns 15,575 shares of the company’s stock worth $751,000 after buying an additional 100 shares during the period. 98.48% of the stock is owned by institutional investors.
Flowserve Corp Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.