Several other research analysts also recently weighed in on FLS. Royal Bank of Canada reiterated a hold rating and issued a $40.00 target price on shares of Flowserve in a research note on Friday, July 13th. Zacks Investment Research downgraded Flowserve from a hold rating to a sell rating in a research note on Monday, July 16th. Robert W. Baird reiterated a hold rating and issued a $47.00 target price on shares of Flowserve in a research note on Friday, July 20th. ValuEngine upgraded Flowserve from a hold rating to a buy rating in a research note on Wednesday, August 8th. Finally, Oppenheimer reiterated a hold rating on shares of Flowserve in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $49.71.
Shares of FLS stock traded down $2.78 during midday trading on Thursday, hitting $50.22. The company had a trading volume of 2,526,509 shares, compared to its average volume of 1,303,105. Flowserve has a 52-week low of $38.46 and a 52-week high of $56.86. The company has a market capitalization of $6.43 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.68 and a beta of 1.55. The company has a current ratio of 2.25, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89.
Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. Flowserve had a positive return on equity of 11.59% and a negative net margin of 1.27%. The company had revenue of $952.72 million for the quarter, compared to the consensus estimate of $925.33 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Flowserve will post 1.71 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Girard Partners LTD. purchased a new stake in shares of Flowserve in the third quarter valued at approximately $101,000. Zurich Insurance Group Ltd FI acquired a new position in Flowserve during the second quarter worth $131,000. Point72 Hong Kong Ltd acquired a new position in Flowserve during the second quarter worth $163,000. Tower Research Capital LLC TRC acquired a new position in Flowserve during the second quarter worth $174,000. Finally, D.A. Davidson & CO. acquired a new position in Flowserve during the second quarter worth $216,000.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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