Flowserve (NYSE:FLS) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Flowserve (NYSE:FLS) in a report issued on Friday, MarketBeat reports. The brokerage issued a buy rating and a $65.00 price target on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird increased their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen raised their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Flowserve Trading Down 0.5 %

Shares of NYSE FLS opened at $54.51 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. Flowserve has a 1 year low of $35.31 and a 1 year high of $55.90. The firm has a 50-day moving average of $49.71 and a 200 day moving average of $48.63. The stock has a market cap of $7.18 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. During the same quarter in the previous year, the business posted $0.52 earnings per share. Flowserve’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Flowserve will post 2.76 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio is presently 47.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RBA Wealth Management LLC bought a new position in shares of Flowserve during the 1st quarter worth $3,112,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Flowserve in the 1st quarter valued at about $3,808,000. Hennessy Advisors Inc. raised its holdings in shares of Flowserve by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock valued at $28,226,000 after purchasing an additional 76,400 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Flowserve by 541.1% in the 1st quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock worth $20,616,000 after purchasing an additional 350,889 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of Flowserve during the first quarter valued at approximately $874,000. Institutional investors own 93.93% of the company’s stock.

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.