Flowserve Corporation (NYSE:FLS) announced a quarterly dividend on Tuesday, September 5th, RTT News reports. Stockholders of record on Friday, September 22nd will be paid a dividend of 0.19 per share by the industrial products company on Friday, October 6th. This represents a $0.76 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 21st.
Flowserve Corporation has increased its dividend payment by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Flowserve Corporation has a payout ratio of 53.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Flowserve Corporation to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 37.3%.
Shares of Flowserve Corporation (NYSE FLS) opened at 41.97 on Wednesday. The stock has a market cap of $5.48 billion, a P/E ratio of 52.46 and a beta of 1.45. The stock has a 50 day moving average of $39.73 and a 200 day moving average of $45.48. Flowserve Corporation has a 52 week low of $37.51 and a 52 week high of $52.10.
Flowserve Corporation (NYSE:FLS) last announced its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $877.00 million for the quarter, compared to analyst estimates of $933.91 million. During the same period last year, the firm earned $0.57 EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts expect that Flowserve Corporation will post $1.43 earnings per share for the current year.
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FLS has been the topic of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target on shares of Flowserve Corporation in a report on Friday, July 14th. BMO Capital Markets reiterated a “buy” rating and set a $56.00 price target on shares of Flowserve Corporation in a report on Tuesday, June 27th. Cowen and Company reiterated a “buy” rating and set a $55.00 price target on shares of Flowserve Corporation in a report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Flowserve Corporation in a report on Sunday, September 3rd. Finally, Zacks Investment Research upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.45.
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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