Flowserve Corp (NYSE:FLS) announced a quarterly dividend on Thursday, December 21st, RTT News reports. Stockholders of record on Friday, January 5th will be paid a dividend of 0.19 per share by the industrial products company on Friday, January 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, January 4th.
Flowserve has raised its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend every year for the last 11 years. Flowserve has a payout ratio of 55.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 41.5%.
Shares of Flowserve (NYSE:FLS) opened at $44.00 on Friday. The company has a market cap of $5,750.00, a price-to-earnings ratio of 35.77, a PEG ratio of 2.64 and a beta of 1.53. Flowserve has a 52-week low of $37.51 and a 52-week high of $52.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12.
Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $883.38 million during the quarter, compared to analysts’ expectations of $871.20 million. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. analysts anticipate that Flowserve will post 1.37 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on FLS shares. KeyCorp restated a “hold” rating on shares of Flowserve in a report on Thursday, September 28th. Robert W. Baird reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Flowserve in a report on Wednesday, October 4th. Citigroup reissued a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Flowserve in a report on Monday, October 9th. Stifel Nicolaus restated a “buy” rating and set a $49.00 price objective on shares of Flowserve in a research report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Flowserve from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Flowserve currently has an average rating of “Hold” and an average price target of $43.58.
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Flowserve 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.
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