Brokerages Set Flowserve Corporation (NYSE:FLS) Target Price at $49.10
Flowserve Corporation (NYSE:FLS) has received an average rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $49.10.
Several equities analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Flowserve Corporation in a research report on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Flowserve Corporation from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Royal Bank Of Canada reissued a “sell” rating and issued a $46.00 price objective on shares of Flowserve Corporation in a research report on Wednesday, May 3rd. Citigroup Inc. reissued a “neutral” rating and issued a $51.00 price objective (down from $54.00) on shares of Flowserve Corporation in a research report on Monday, July 10th. Finally, BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th.
Several institutional investors have recently added to or reduced their stakes in FLS. BlackRock Inc. increased its position in Flowserve Corporation by 3,165.9% in the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock valued at $386,041,000 after buying an additional 7,728,637 shares during the period. Causeway Capital Management LLC acquired a new position in Flowserve Corporation during the first quarter valued at approximately $88,532,000. Pictet Asset Management Ltd. increased its position in Flowserve Corporation by 1,673.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,194,634 shares of the industrial products company’s stock valued at $57,845,000 after buying an additional 1,127,266 shares during the period. First Eagle Investment Management LLC increased its position in Flowserve Corporation by 4.5% in the first quarter. First Eagle Investment Management LLC now owns 12,543,436 shares of the industrial products company’s stock valued at $607,353,000 after buying an additional 534,815 shares during the period. Finally, Wells Fargo & Company MN increased its position in Flowserve Corporation by 33.9% in the first quarter. Wells Fargo & Company MN now owns 1,914,308 shares of the industrial products company’s stock valued at $92,691,000 after buying an additional 485,008 shares during the period.
Shares of Flowserve Corporation (NYSE:FLS) opened at 41.19 on Friday. Flowserve Corporation has a 52-week low of $39.13 and a 52-week high of $52.10. The firm has a 50-day moving average of $45.84 and a 200 day moving average of $47.88. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 45.77 and a beta of 1.46.
Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.21. The company had revenue of $877 million during the quarter, compared to the consensus estimate of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. Flowserve Corporation’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts predict that Flowserve Corporation will post $1.52 EPS for the current year.
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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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