Flowserve Co. (NYSE:FLS) Declares $0.21 Quarterly Dividend

Flowserve Co. (NYSE:FLS - Get Free Report) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.21 per share by the industrial products company on Friday, January 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.37%.

Flowserve has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.7%.

Flowserve Price Performance

Shares of NYSE FLS traded up $0.63 during midday trading on Monday, reaching $61.25. 3,424,679 shares of the stock traded hands, compared to its average volume of 1,115,985. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The stock has a market capitalization of $8.05 billion, a PE ratio of 30.32, a P/E/G ratio of 1.48 and a beta of 1.41. Flowserve has a one year low of $39.21 and a one year high of $62.32. The company's 50 day moving average is $57.77 and its 200 day moving average is $51.68.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, equities research analysts anticipate that Flowserve will post 2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FLS. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They set a "buy" rating and a $65.00 target price for the company. Bank of America lifted their target price on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $55.00 to $69.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $64.40.

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.