Flowserve Corporation (NYSE:FLS) Raises Dividend to $0.22 Per Share

Flowserve Corporation (NYSE:FLS) declared a quarterly dividend on Friday, February 13th. Investors of record on Friday, March 27th will be given a dividend of 0.22 per share by the industrial products company on Friday, April 10th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 27th. This is a 4.8% increase from Flowserve’s previous quarterly dividend of $0.21.

Flowserve has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Flowserve has a dividend payout ratio of 23.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flowserve to earn $3.71 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 22.6%.

Flowserve Stock Performance

NYSE FLS traded up $2.74 during mid-day trading on Friday, reaching $89.76. 3,193,503 shares of the stock were exchanged, compared to its average volume of 1,514,544. The company has a market capitalization of $11.41 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.92 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03. The business’s 50 day moving average is $75.15 and its 200-day moving average is $64.02. Flowserve has a 1 year low of $37.34 and a 1 year high of $90.48.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Thursday, February 5th. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Flowserve had a net margin of 7.32% and a return on equity of 21.19%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities research analysts forecast that Flowserve will post 3.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FLS. Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Robert W. Baird set a $98.00 target price on Flowserve in a research note on Monday. TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Stifel Nicolaus lifted their price target on shares of Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Monday. Finally, Bank of America restated a “neutral” rating and set a $73.00 price objective (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.80.

Flowserve Company Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.