BMO Capital Markets restated their outperform rating on shares of Flowserve Corporation (NYSE:FLS) in a report issued on Friday morning. BMO Capital Markets currently has a $47.00 target price on the industrial products company’s stock, down from their prior target price of $56.00.

Several other equities research analysts have also commented on FLS. Royal Bank Of Canada reaffirmed a sell rating and issued a $42.00 price target on shares of Flowserve Corporation in a report on Tuesday, April 11th. Cowen and Company raised shares of Flowserve Corporation from a market perform rating to an outperform rating and upped their price target for the company from $41.00 to $55.00 in a report on Wednesday, April 19th. Zacks Investment Research raised shares of Flowserve Corporation from a strong sell rating to a hold rating in a report on Monday, April 24th. Stifel Nicolaus reaffirmed a buy rating and issued a $55.00 price target (up from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. Finally, BidaskClub raised shares of Flowserve Corporation from a sell rating to a hold rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $49.10.

Flowserve Corporation (FLS) opened at 41.13 on Friday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 45.70 and a beta of 1.48. The stock has a 50 day moving average price of $46.04 and a 200-day moving average price of $47.94. Flowserve Corporation has a 1-year low of $39.13 and a 1-year high of $52.10.

Flowserve Corporation (NYSE:FLS) last announced 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. The company had revenue of $877 million for the quarter, compared to analysts’ expectations of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. Flowserve Corporation’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. Equities research analysts expect that Flowserve Corporation will post $1.78 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.85%. Flowserve Corporation’s dividend payout ratio (DPR) is 98.70%.

Several hedge funds have recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its stake in Flowserve Corporation by 0.4% in the second quarter. Retirement Systems of Alabama now owns 63,332 shares of the industrial products company’s stock valued at $2,941,000 after buying an additional 241 shares during the period. YHB Investment Advisors Inc. boosted its stake in Flowserve Corporation by 8.0% in the second quarter. YHB Investment Advisors Inc. now owns 12,529 shares of the industrial products company’s stock valued at $582,000 after buying an additional 928 shares during the period. Sei Investments Co. boosted its stake in Flowserve Corporation by 1.4% in the second quarter. Sei Investments Co. now owns 181,215 shares of the industrial products company’s stock valued at $8,414,000 after buying an additional 2,470 shares during the period. Markel Corp boosted its stake in Flowserve Corporation by 29.5% in the second quarter. Markel Corp now owns 57,000 shares of the industrial products company’s stock valued at $2,647,000 after buying an additional 13,000 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in Flowserve Corporation during the second quarter valued at $253,000.

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.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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