A number of other equities research analysts also recently weighed in on FLS. UBS AG reissued a neutral rating and set a $46.00 price target (down from $50.00) on shares of Flowserve Corporation in a research note on Monday. Wolfe Research upgraded shares of Flowserve Corporation from an underperform rating to a market perform rating and set a $38.00 price objective for the company in a report on Monday. BMO Capital Markets reiterated an outperform rating and issued a $47.00 price target (down previously from $56.00) on shares of Flowserve Corporation in a report on Friday, July 28th. Boenning Scattergood reiterated a hold rating on shares of Flowserve Corporation in a report on Friday, July 28th. Finally, Cowen and Company reiterated a buy rating and issued a $55.00 price target on shares of Flowserve Corporation in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Flowserve Corporation presently has a consensus rating of Hold and a consensus price target of $49.10.
BidaskClub cut shares of Flowserve Corporation (NYSE:FLS) from a sell rating to a strong sell rating in a report released on Tuesday.
Shares of Flowserve Corporation (NYSE:FLS) traded up 1.03% during midday trading on Tuesday, hitting $42.02. 878,253 shares of the company’s stock traded hands. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 46.69 and a beta of 1.46. The company has a 50 day moving average price of $45.84 and a 200 day moving average price of $47.88. Flowserve Corporation has a 1-year low of $39.13 and a 1-year high of $52.10.
Flowserve Corporation (NYSE:FLS) last announced its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. The company had revenue of $877 million during the quarter, compared to the consensus estimate of $933.91 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. Equities analysts anticipate that Flowserve Corporation will post $1.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, June 21st. Flowserve Corporation’s payout ratio is currently 98.70%.
Institutional investors have recently bought and sold shares of the company. Huntington National Bank increased its position in shares of Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock worth $101,000 after buying an additional 480 shares during the period. Creative Planning boosted its stake in shares of Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock worth $112,000 after buying an additional 141 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Flowserve Corporation during the first quarter worth about $116,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Flowserve Corporation during the first quarter worth about $151,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Flowserve Corporation by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock worth $157,000 after buying an additional 174 shares in the last quarter.
Flowserve Corporation 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.