Flowserve (NYSE:FLS) Stock Price Expected to Rise, Mizuho Analyst Says

Flowserve (NYSE:FLS - Free Report) had its price objective increased by Mizuho from $65.00 to $70.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 27th. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and upped their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Stifel Nicolaus boosted their price objective on Flowserve from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Royal Bank of Canada cut their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Bank of America boosted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Flowserve has an average rating of "Moderate Buy" and an average price target of $68.60.

Flowserve Price Performance

Shares of FLS traded down $2.08 during midday trading on Thursday, hitting $55.38. 2,004,391 shares of the company traded hands, compared to its average volume of 1,352,376. The stock has a 50-day moving average of $60.57 and a 200-day moving average of $55.78. Flowserve has a one year low of $41.60 and a one year high of $65.08. The firm has a market cap of $7.28 billion, a P/E ratio of 25.88, a PEG ratio of 1.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts predict that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Institutional Trading of Flowserve

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Flowserve by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after purchasing an additional 101,668 shares during the period. FIL Ltd boosted its stake in shares of Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after purchasing an additional 2,193,904 shares during the period. State Street Corp boosted its stake in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after purchasing an additional 37,132 shares during the period. AQR Capital Management LLC raised its holdings in shares of Flowserve by 9.7% during the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company's stock valued at $168,272,000 after acquiring an additional 258,361 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Flowserve by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock valued at $134,577,000 after acquiring an additional 44,039 shares in the last quarter. Hedge funds and other 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.