Flowserve Co. Plans Quarterly Dividend of $0.21 (NYSE:FLS)

Flowserve Co. (NYSE:FLS) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.21 per share by the industrial products company on Friday, January 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, December 27th.

Flowserve has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Flowserve to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.7%.

Flowserve Trading Up 0.6 %

FLS stock opened at $58.45 on Wednesday. The business has a fifty day moving average of $58.26 and a 200-day moving average of $52.11. The company has a market cap of $7.68 billion, a P/E ratio of 28.94, a PEG ratio of 1.48 and a beta of 1.41. Flowserve has a twelve month low of $39.21 and a twelve month high of $62.32. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Flowserve’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Flowserve will post 2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLS. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Mizuho lifted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group assumed coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $64.40.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.