Flowserve Corporation (NYSE:FLS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other analysts have also recently commented on FLS. Royal Bank Of Canada reissued a “sell” rating and issued a $46.00 price target on shares of Flowserve Corporation in a research report on Tuesday, June 6th. Cowen and Company raised Flowserve Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $41.00 to $55.00 in a research report on Wednesday, April 19th. Jefferies Group LLC reissued a “buy” rating and issued a $90.00 price target on shares of Flowserve Corporation in a research report on Tuesday, March 28th. BMO Capital Markets raised Flowserve Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $53.00 in a research report on Monday, March 27th. Finally, Robert W. Baird raised Flowserve Corporation from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research report on Wednesday, March 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $57.86.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

Flowserve Corporation (NYSE:FLS) opened at 44.25 on Wednesday. The firm has a 50-day moving average price of $48.53 and a 200 day moving average price of $48.68. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 47.58 and a beta of 1.52. Flowserve Corporation has a one year low of $39.13 and a one year high of $52.10.

Flowserve Corporation (NYSE:FLS) last posted its earnings results on Monday, May 1st. The industrial products company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Flowserve Corporation had a return on equity of 15.76% and a net margin of 3.12%. The firm had revenue of $863.63 million for the quarter, compared to the consensus estimate of $817.56 million. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities analysts expect that Flowserve Corporation will post $1.77 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 23rd will be given a $0.19 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.72%. Flowserve Corporation’s dividend payout ratio is currently 81.72%.

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A number of institutional investors have recently added to or reduced their stakes in FLS. Russell Investments Group Ltd. acquired a new position in Flowserve Corporation during the fourth quarter valued at about $4,262,000. State Board of Administration of Florida Retirement System boosted its position in Flowserve Corporation by 0.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 191,130 shares of the industrial products company’s stock valued at $9,184,000 after buying an additional 1,235 shares during the period. State Street Corp boosted its position in Flowserve Corporation by 5.9% in the fourth quarter. State Street Corp now owns 5,385,416 shares of the industrial products company’s stock valued at $258,775,000 after buying an additional 299,995 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Flowserve Corporation by 187.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,821 shares of the industrial products company’s stock valued at $1,241,000 after buying an additional 16,838 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Flowserve Corporation by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,478 shares of the industrial products company’s stock valued at $359,000 after buying an additional 32 shares during the period. 98.67% of the stock is currently owned by institutional investors and hedge funds.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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