Stifel Nicolaus restated their hold rating on shares of Flowserve (NYSE:FLS) in a report issued on Tuesday morning, Marketbeat.com reports. They currently have a $47.00 price target on the industrial products company’s stock, up from their prior price target of $43.00.
FLS has been the topic of several other reports. BMO Capital Markets cut Flowserve from an outperform rating to a market perform rating and reduced their price target for the stock from $51.00 to $41.00 in a report on Friday, November 3rd. Royal Bank of Canada restated a sell rating and set a $39.00 price target on shares of Flowserve in a report on Thursday, January 4th. Robert W. Baird restated a hold rating and set a $45.00 price target on shares of Flowserve in a report on Friday, December 15th. Boenning Scattergood reaffirmed a hold rating on shares of Flowserve in a research note on Thursday, November 2nd. Finally, Seaport Global Securities lowered Flowserve from a buy rating to a neutral rating and cut their price objective for the stock from $60.00 to $40.00 in a research note on Friday, November 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Flowserve currently has a consensus rating of Hold and an average target price of $43.92.
Flowserve (NYSE FLS) traded down $0.62 during trading hours on Tuesday, hitting $43.71. The stock had a trading volume of 1,484,116 shares, compared to its average volume of 1,204,992. The company has a market capitalization of $5,730.00, a PE ratio of 35.54, a P/E/G ratio of 2.61 and a beta of 1.53. 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 has a 52 week low of $37.51 and a 52 week high of $52.10.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $883.38 million for the quarter, compared to analysts’ expectations of $871.20 million. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. equities analysts forecast that Flowserve will post 1.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, January 4th. Flowserve’s dividend payout ratio is currently 61.79%.
Several institutional investors have recently bought and sold shares of FLS. First Eagle Investment Management LLC lifted its stake in Flowserve by 2.2% in the third quarter. First Eagle Investment Management LLC now owns 13,059,375 shares of the industrial products company’s stock valued at $556,199,000 after buying an additional 276,377 shares during the period. Vanguard Group Inc. lifted its stake in Flowserve by 2.2% in the second quarter. Vanguard Group Inc. now owns 12,843,068 shares of the industrial products company’s stock valued at $596,303,000 after buying an additional 272,324 shares during the period. BlackRock Inc. lifted its stake in Flowserve by 2.8% in the second quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock valued at $380,483,000 after buying an additional 222,016 shares during the period. Gamco Investors INC. ET AL lifted its stake in Flowserve by 9.2% in the third quarter. Gamco Investors INC. ET AL now owns 2,816,277 shares of the industrial products company’s stock valued at $119,945,000 after buying an additional 236,752 shares during the period. Finally, Pictet Asset Management Ltd. lifted its stake in Flowserve by 78.5% in the third quarter. Pictet Asset Management Ltd. now owns 2,339,145 shares of the industrial products company’s stock valued at $99,624,000 after buying an additional 1,028,684 shares during the period.
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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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