Flowserve (NYSE:FLS) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Flowserve (NYSE:FLS) had its target price raised by Royal Bank of Canada from $55.00 to $57.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a sector perform rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on FLS. The Goldman Sachs Group upped their target price on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird upped their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price target for the company. Finally, TD Cowen upped their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $60.10.

Flowserve Trading Up 1.7 %

Flowserve stock opened at $53.54 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 1.99. The stock has a market cap of $7.03 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39. The stock has a 50-day moving average of $50.90 and a two-hundred day moving average of $49.05. Flowserve has a one year low of $36.56 and a one year high of $55.90.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion during 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 business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, research analysts anticipate that Flowserve will post 2.71 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is currently 41.58%.

Institutional Trading of Flowserve

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Flowserve during the third quarter worth approximately $27,000. nVerses Capital LLC purchased a new position in Flowserve during the second quarter worth approximately $34,000. Allworth Financial LP grew its holdings in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 403 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.