Stocks of Flowserve Corporation (NYSE:FLS) traded higher last session on Wall Street, down -2.06% to $30.50.
According to the data, Flowserve Corporation (NYSE:FLS) has 13 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $23.00, we find $33.00. Given the previous closing price of $31.14, this indicates a potential upside of 5.97 percent. FLS stock price is now 0.85% away from the 50-day moving average and -0.44% away from the 200-day moving average. The market capitalization of the company currently stands at $3.99B.
A total of 7 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $32.82 as their price target over the next twelve months.
With the price target reduced from $38 to $31, Credit Suisse Downgraded its rating from Outperform to Neutral for Flowserve Corporation (NYSE: FLS). On July 11, 2022, BofA Securities Upgraded its previous ‘Underperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $31, while ‘Mizuho’ rates the stock as ‘Buy’.
Insiders disposed of 61,310 shares of company stock worth roughly $1.87 million over the past 1 year. A total of 0.35% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FLS stock. A new stake in Flowserve Corporation shares was purchased by AMUNDI during the first quarter worth $28,323,000. ATLANTIC INVESTMENT MANAGEMENT, INC. invested $24,625,000 in shares of FLS during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in Flowserve Corporation valued at approximately $10,652,000. CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in FLS for approximately $3,694,000. SHELLBACK CAPITAL, LP purchased a new stake in FLS valued at around $3,575,000 in the second quarter.
Wednesday’s opening bell rang with an opening price of $31.30 for Flowserve Corporation (NYSE: FLS). During the past 12 months, Flowserve Corporation has had a low of $23.89 and a high of $37.59. As of last week, the company has a debt-to-equity ratio of 0.77, a current ratio of 2.00, and a quick ratio of 1.30. The fifty day moving average price for FLS is $30.24 and a two-hundred day moving average price translates $30.63 for the stock.
The latest earnings results from Flowserve Corporation (NYSE: FLS) was released for Jun, 2022. According to the Specialty Industrial Machinery Company, earnings per share came in at $0.3, beating analysts’ expectations of $0.25 by 0.05. This compares to $0.40 EPS in the same period last year. The net profit margin was 2.40% and return on equity was 4.80% for FLS. The company reported revenue of $872.88 million for the quarter, compared to $866.12 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.78 percent. For the current quarter, analysts expect FLS to generate $868.14M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 12/30/2022 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 2.62% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, FLS is presently at 124.30%.
Flowserve Corporation(FLS) Company Profile
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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. The FCD segment provides engineered and industrial valve and automation solutions, including isolation and control valves, actuation, controls, and related equipment, as well as equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs, and field machining capabilities. This segment’s products are used to control, direct, and manage the flow of liquids, gases, and fluids. The company primarily serves oil and gas, chemical and pharmaceuticals, power generation, and water management markets, as well as general industries, including mining and ore processing, pulp and paper, food and beverage, and other smaller applications. The company distributes its products through direct sales, distributors, and sales representatives. Flowserve Corporation was incorporated in 1912 and is headquartered in Irving, Texas.