Flowserve Co. (NYSE:FLS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $66.10.

FLS has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Citigroup lowered their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Mizuho raised their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America raised their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th.

Flowserve Trading Up 1.4 %

NYSE FLS opened at $63.61 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. The company’s 50-day simple moving average is $59.85 and its two-hundred day simple moving average is $53.51. Flowserve has a one year low of $39.69 and a one year high of $63.86.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. Equities analysts forecast that Flowserve will post 2.71 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Hedge Funds Weigh In On Flowserve

Several large investors have recently made changes to their positions in FLS. Millennium Management LLC lifted its stake in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares during the period. AQR Capital Management LLC lifted its stake in shares of Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Flowserve by 197.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after purchasing an additional 606,416 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Flowserve in the 2nd quarter valued at $23,911,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after purchasing an additional 422,141 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Flowserve

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.