Flowserve Corporation (FLS) Earns “Hold” Rating from Boenning Scattergood
A number of other brokerages have also recently issued reports on FLS. Susquehanna Bancshares Inc raised Flowserve Corporation from a neutral rating to a positive rating and decreased their target price for the company from $50.00 to $46.00 in a research report on Tuesday, August 15th. BMO Capital Markets reaffirmed an outperform rating and set a $47.00 price objective (down from $56.00) on shares of Flowserve Corporation in a research note on Friday, July 28th. Cowen and Company reaffirmed a buy rating and set a $50.00 price objective on shares of Flowserve Corporation in a research note on Thursday, August 10th. Zacks Investment Research downgraded Flowserve Corporation from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Finally, BidaskClub raised Flowserve Corporation from a sell rating to a hold rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $44.27.
Shares of Flowserve Corporation (NYSE:FLS) traded up $0.11 during midday trading on Thursday, hitting $39.25. The company had a trading volume of 4,749,839 shares, compared to its average volume of 1,518,293. The stock has a market capitalization of $5,127.42, a price-to-earnings ratio of 25.16, a PEG ratio of 2.60 and a beta of 1.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.29 and a current ratio of 2.12.
Flowserve Corporation (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $883.38 million during the quarter, compared to analysts’ expectations of $871.20 million. Flowserve Corporation had a return on equity of 12.09% and a net margin of 4.58%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. research analysts predict that Flowserve Corporation will post 1.36 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, September 21st. Flowserve Corporation’s payout ratio is currently 58.92%.
Large investors have recently made changes to their positions in the business. Huntington National Bank grew its holdings in Flowserve Corporation by 28.0% during the 2nd quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after buying an additional 480 shares during the last quarter. Creative Planning grew its holdings in Flowserve Corporation by 6.2% during the 2nd quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after buying an additional 141 shares during the last quarter. Federated Investors Inc. PA grew its holdings in Flowserve Corporation by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after buying an additional 46 shares during the last quarter. Evercore Wealth Management LLC grew its holdings in Flowserve Corporation by 41.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after buying an additional 756 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in Flowserve Corporation during the 2nd quarter valued at $201,000.
About Flowserve Corporation
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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