Flowserve Corporation (FLS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Flowserve Corporation (NYSE:FLS) from a strong sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Flowserve’s key strengths include leading position in the flow control industry, strong aftermarket business comprehensive product portfolio and wide global footprint. Also, the company’s strong aftermarket business is expected to act as a major growth catalyst. Moreover, the diligent restructuring plans are resulting in substantial cost savings, thus adding to Flowserve’s strength. In addition, increased project bidding activities in the energy markets signal brighter days, going forward. However, on the flip side, pricing pressure has proved to be a major drag on the company’s top-line performance over the past few quarters. Also, loss of sales leverage and related under-absorption are pressurizing the financials. The company’s shares have underperformed the industry over the past six months. Also, higher realignment costs and currency fluctuations are likely to hurt margins.”

FLS has been the topic of several other research reports. Cowen and Company restated a buy rating and issued a $55.00 price objective on shares of Flowserve Corporation in a research report on Friday, July 28th. Robert W. Baird restated a hold rating and issued a $43.00 price objective on shares of Flowserve Corporation in a research report on Wednesday, October 4th. BidaskClub lowered Flowserve Corporation from a hold rating to a sell rating in a research report on Wednesday, June 21st. Wolfe Research upgraded Flowserve Corporation from an underperform rating to a market perform rating and set a $38.00 price objective on the stock in a research report on Monday, July 31st. Finally, Stifel Nicolaus restated a buy rating and issued a $45.00 price objective on shares of Flowserve Corporation in a research report on Sunday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $47.55.

Shares of Flowserve Corporation (NYSE FLS) traded down 0.29% during trading on Wednesday, reaching $44.49. 743,008 shares of the company’s stock traded hands. The company has a 50 day moving average price of $42.10 and a 200-day moving average price of $45.00. The stock has a market cap of $5.81 billion, a P/E ratio of 55.61 and a beta of 1.47. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The company had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $933.91 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts expect that Flowserve Corporation will post $1.39 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Flowserve Corporation (FLS) Upgraded to “Hold” by Zacks Investment Research” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/19/flowserve-corporation-fls-upgraded-to-hold-by-zacks-investment-research.html.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, September 21st. Flowserve Corporation’s dividend payout ratio is currently 98.70%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FLS. UBS Asset Management Americas Inc. raised its stake in Flowserve Corporation by 9.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 362,165 shares of the industrial products company’s stock valued at $17,536,000 after purchasing an additional 31,186 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Flowserve Corporation in the 1st quarter worth $151,000. Stifel Financial Corp increased its stake in shares of Flowserve Corporation by 0.5% in the 1st quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock worth $770,000 after acquiring an additional 83 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Flowserve Corporation by 10.3% in the 1st quarter. OppenheimerFunds Inc. now owns 11,063 shares of the industrial products company’s stock worth $536,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Flowserve Corporation by 5.1% in the 1st quarter. Teachers Advisors LLC now owns 158,109 shares of the industrial products company’s stock worth $7,656,000 after acquiring an

According to Zacks, “Flowserve’s key strengths include leading position in the flow control industry, strong aftermarket business comprehensive product portfolio and wide global footprint. Also, the company’s strong aftermarket business is expected to act as a major growth catalyst. Moreover, the diligent restructuring plans are resulting in substantial cost savings, thus adding to Flowserve’s strength. In addition, increased project bidding activities in the energy markets signal brighter days, going forward. However, on the flip side, pricing pressure has proved to be a major drag on the company’s top-line performance over the past few quarters. Also, loss of sales leverage and related under-absorption are pressurizing the financials. The company’s shares have underperformed the industry over the past six months. Also, higher realignment costs and currency fluctuations are likely to hurt margins.”

FLS has been the topic of several other research reports. Cowen and Company restated a buy rating and issued a $55.00 price objective on shares of Flowserve Corporation in a research report on Friday, July 28th. Robert W. Baird restated a hold rating and issued a $43.00 price objective on shares of Flowserve Corporation in a research report on Wednesday, October 4th. BidaskClub lowered Flowserve Corporation from a hold rating to a sell rating in a research report on Wednesday, June 21st. Wolfe Research upgraded Flowserve Corporation from an underperform rating to a market perform rating and set a $38.00 price objective on the stock in a research report on Monday, July 31st. Finally, Stifel Nicolaus restated a buy rating and issued a $45.00 price objective on shares of Flowserve Corporation in a research report on Sunday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $47.55.

Shares of Flowserve Corporation (NYSE FLS) traded down 0.29% during trading on Wednesday, reaching $44.49. 743,008 shares of the company’s stock traded hands. The company has a 50 day moving average price of $42.10 and a 200-day moving average price of $45.00. The stock has a market cap of $5.81 billion, a P/E ratio of 55.61 and a beta of 1.47. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The company had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $933.91 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts expect that Flowserve Corporation will post $1.39 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Flowserve Corporation (FLS) Upgraded to “Hold” by Zacks Investment Research” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/19/flowserve-corporation-fls-upgraded-to-hold-by-zacks-investment-research.html.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, September 21st. Flowserve Corporation’s dividend payout ratio is currently 98.70%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FLS. UBS Asset Management Americas Inc. raised its stake in Flowserve Corporation by 9.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 362,165 shares of the industrial products company’s stock valued at $17,536,000 after purchasing an additional 31,186 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Flowserve Corporation in the 1st quarter worth $151,000. Stifel Financial Corp increased its stake in shares of Flowserve Corporation by 0.5% in the 1st quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock worth $770,000 after acquiring an additional 83 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Flowserve Corporation by 10.3% in the 1st quarter. OppenheimerFunds Inc. now owns 11,063 shares of the industrial products company’s stock worth $536,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Flowserve Corporation by 5.1% in the 1st quarter. Teachers Advisors LLC now owns 158,109 shares of the industrial products company’s stock worth $7,656,000 after acquiring an additional 7,720 shares during the last quarter.

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.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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