Flowserve Corporation (FLS) Receives “Buy” Rating from Cowen and Company
Cowen and Company restated their buy rating on shares of Flowserve Corporation (NYSE:FLS) in a report issued on Friday morning. They currently have a $55.00 target price on the industrial products company’s stock.
Other research analysts have also issued reports about the stock. Wolfe Research began coverage on shares of Flowserve Corporation in a research report on Tuesday, July 11th. They set an underperform rating and a $38.00 price target on the stock. BMO Capital Markets raised their price target on shares of Flowserve Corporation from $53.00 to $56.00 and gave the company an outperform rating in a research report on Thursday, May 4th. Royal Bank Of Canada reissued a sell rating and set a $46.00 price target on shares of Flowserve Corporation in a research report on Wednesday, May 3rd. Citigroup Inc. reissued a neutral rating and set a $51.00 price target (down from $54.00) on shares of Flowserve Corporation in a research report on Monday, July 10th. Finally, BidaskClub raised shares of Flowserve Corporation from a sell rating to a hold rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $49.10.
Shares of Flowserve Corporation (FLS) opened at 41.13 on Friday. The firm’s 50-day moving average is $46.04 and its 200 day moving average is $47.94. The company has a market capitalization of $5.36 billion, a PE ratio of 45.70 and a beta of 1.48. Flowserve Corporation has a 12 month low of $39.13 and a 12 month high of $52.10.
Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. The business had revenue of $877 million during the quarter, compared to the consensus estimate of $933.91 million. During the same period last year, the business posted $0.57 earnings per share. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts predict that Flowserve Corporation will post $1.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.85%. Flowserve Corporation’s dividend payout ratio is currently 98.70%.
A number of institutional investors have recently modified their holdings of FLS. New England Research & Management Inc. bought a new stake in shares of Flowserve Corporation during the first quarter valued at about $527,000. CENTRAL TRUST Co raised its stake in shares of Flowserve Corporation by 1.9% in the first quarter. CENTRAL TRUST Co now owns 6,546 shares of the industrial products company’s stock valued at $317,000 after buying an additional 121 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Flowserve Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 116,125 shares of the industrial products company’s stock valued at $5,623,000 after buying an additional 3,261 shares during the last quarter. Woodstock Corp raised its stake in shares of Flowserve Corporation by 12.9% in the first quarter. Woodstock Corp now owns 21,510 shares of the industrial products company’s stock valued at $1,042,000 after buying an additional 2,465 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Flowserve Corporation by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock valued at $158,000 after buying an additional 100 shares during the last quarter.
Flowserve Corporation 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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