Flowserve Co. Announces Quarterly Dividend of $0.21 (NYSE:FLS)

Flowserve Co. (NYSE:FLS) announced a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.21 per share by the industrial products company on Friday, January 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.37%.

Flowserve has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.27 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 25.7%.

Flowserve Trading Up 1.0 %

Shares of FLS stock opened at $61.25 on Tuesday. The business’s 50 day moving average is $57.77 and its two-hundred day moving average is $51.68. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve has a 12 month low of $39.21 and a 12 month high of $62.32. The company has a market cap of $8.05 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. Equities analysts predict that Flowserve will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

FLS has been the topic of several research analyst reports. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Robert W. Baird boosted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Mizuho boosted their price objective on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup raised their target price on Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.40.

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.