Flowserve Co. (FLS) To Go Ex-Dividend on September 27th

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Thursday, August 15th, RTT News reports. Investors of record on Friday, September 27th will be given a dividend of 0.21 per share by the industrial products company on Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, September 27th.

Flowserve has a dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.16 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 26.6%.

Flowserve Stock Up 7.3 %

FLS opened at $52.14 on Wednesday. The business has a 50 day moving average of $47.97 and a 200-day moving average of $47.62. Flowserve has a 1-year low of $35.31 and a 1-year high of $52.22. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 1.16 and a beta of 1.39.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. Flowserve’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Flowserve will post 2.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FLS shares. Robert W. Baird increased their price objective on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their target price on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.11.

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.