Shares of Flowserve Co. (NYSE:FLS - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $43.41 and last traded at $43.54, with a volume of 1476055 shares trading hands. The stock had previously closed at $49.86.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Flowserve from a "sell" rating to a "neutral" rating and raised their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Stifel Nicolaus upped their target price on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Royal Bank of Canada cut their price target on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Finally, Robert W. Baird upgraded Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective for the company in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $68.60.
View Our Latest Research Report on FLS
Flowserve Trading Down 1.5 %
The firm has a market capitalization of $5.19 billion, a P/E ratio of 18.41, a PEG ratio of 1.35 and a beta of 1.22. The business's 50 day moving average is $53.48 and its two-hundred day moving average is $56.31. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.
Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Analysts expect that Flowserve Co. will post 3.18 EPS for the current year.
Flowserve Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 2.13%. The ex-dividend date is Friday, March 28th. Flowserve's payout ratio is currently 39.25%.
Institutional Trading of Flowserve
Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC raised its position in Flowserve by 0.6% in the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after purchasing an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after purchasing an additional 236 shares in the last quarter. Savant Capital LLC lifted its stake in Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after purchasing an additional 251 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock worth $327,000 after buying an additional 252 shares in the last quarter. Institutional investors own 93.93% of the company's stock.
About Flowserve
(
Get Free Report)
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.
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