Stifel Nicolaus lowered shares of Flowserve (NYSE:FLS) from a buy rating to a hold rating in a report released on Monday, December 11th, Marketbeat.com reports. They currently have $43.00 price objective on the industrial products company’s stock.
A number of other equities research analysts also recently issued reports on FLS. Susquehanna Bancshares raised Flowserve from a neutral rating to a positive rating and lowered their price target for the company from $50.00 to $46.00 in a research report on Tuesday, August 15th. Zacks Investment Research downgraded Flowserve from a hold rating to a strong sell rating in a research report on Wednesday, August 16th. UBS Group raised Flowserve from a neutral rating to a positive rating in a research report on Tuesday, August 15th. Robert W. Baird reissued a hold rating and set a $43.00 price target on shares of Flowserve in a research report on Wednesday, October 4th. Finally, KeyCorp reissued a hold rating on shares of Flowserve in a research report on Thursday, September 28th. 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 has a consensus rating of Hold and a consensus target price of $43.33.
Shares of Flowserve (NYSE FLS) traded up $0.37 during trading hours on Monday, hitting $42.50. The stock had a trading volume of 705,061 shares, compared to its average volume of 691,950. The stock has a market capitalization of $5,503.65, a P/E ratio of 32.95, a P/E/G ratio of 3.41 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 twelve month low of $37.51 and a twelve month high of $52.10.
Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.03. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The business had revenue of $883.38 million during the quarter, compared to the consensus estimate of $871.20 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. research analysts forecast that Flowserve will post 1.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, January 4th. Flowserve’s payout ratio is 58.92%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC boosted its position in shares of 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 worth $556,199,000 after buying an additional 276,377 shares during the period. Vanguard Group Inc. boosted its position in shares of Flowserve by 2.2% in the second quarter. Vanguard Group Inc. now owns 12,843,068 shares of the industrial products company’s stock worth $596,303,000 after buying an additional 272,324 shares during the period. BlackRock Inc. lifted its stake in shares of Flowserve by 2.8% in the second quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock worth $380,483,000 after acquiring an additional 222,016 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of Flowserve by 22.2% in the second quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after acquiring an additional 1,146,084 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of 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 worth $119,945,000 after acquiring an additional 236,752 shares in the last quarter.
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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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