Stifel Nicolaus Has Lowered Expectations for Flowserve (NYSE:FLS) Stock Price

Flowserve (NYSE:FLS - Free Report) had its price objective reduced by Stifel Nicolaus from $77.00 to $50.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

Several other analysts also recently issued reports on FLS. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Mizuho lifted their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. TD Cowen increased their target price on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Royal Bank of Canada lowered their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Finally, Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.30.

Flowserve Stock Down 1.2 %

FLS stock traded down $0.51 during mid-day trading on Monday, hitting $41.68. 1,672,596 shares of the company were exchanged, compared to its average volume of 1,248,476. The firm has a fifty day simple moving average of $50.26 and a 200 day simple moving average of $55.76. The company has a market capitalization of $5.49 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve has a twelve month low of $37.34 and a twelve month high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 2.02%. Flowserve's dividend payout ratio is 39.25%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FIL Ltd grew its holdings in Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after acquiring an additional 2,193,904 shares during the period. Norges Bank bought a new stake in shares of Flowserve in the fourth quarter valued at about $94,629,000. Driehaus Capital Management LLC lifted its stake in Flowserve by 307.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock valued at $108,651,000 after acquiring an additional 1,424,948 shares in the last quarter. Invesco Ltd. boosted its holdings in Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after purchasing an additional 714,063 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Flowserve by 57.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock worth $82,859,000 after buying an additional 527,250 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

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.