UBS AG reiterated their neutral rating on shares of Flowserve Corporation (NYSE:FLS) in a research note released on Monday, www.flashratings.com reports. They currently have a $46.00 price objective on the industrial products company’s stock, down from their prior price objective of $50.00.

FLS has been the subject of a number of other reports. Royal Bank Of Canada reiterated a sell rating and issued a $46.00 price objective on shares of Flowserve Corporation in a research note on Tuesday, June 6th. Citigroup Inc. reiterated a neutral rating and issued a $51.00 price objective (down from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th. Cowen and Company upgraded shares of Flowserve Corporation from a market perform rating to an outperform rating and lifted their price objective for the company from $41.00 to $55.00 in a research note on Wednesday, April 19th. Wolfe Research assumed coverage on shares of Flowserve Corporation in a research note on Tuesday, July 11th. They issued an underperform rating and a $38.00 price objective for the company. Finally, BMO Capital Markets reiterated a buy rating and issued a $56.00 price objective on shares of Flowserve Corporation in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $49.10.

Shares of Flowserve Corporation (NYSE:FLS) traded down 0.07% during midday trading on Monday, hitting $41.19. The company had a trading volume of 1,200,847 shares. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 45.77 and a beta of 1.46. The company’s 50-day moving average price is $45.84 and its 200 day moving average price is $47.88. Flowserve Corporation has a 12-month low of $39.13 and a 12-month 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. The business had revenue of $877 million during the quarter, compared to analysts’ expectations of $933.91 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts predict that Flowserve Corporation will post $1.52 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 23rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, June 21st. Flowserve Corporation’s payout ratio is 98.70%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. increased its position in shares of Flowserve Corporation by 1.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 330,979 shares of the industrial products company’s stock valued at $15,906,000 after buying an additional 3,736 shares during the last quarter. World Asset Management Inc increased its stake in Flowserve Corporation by 15.6% in the first quarter. World Asset Management Inc now owns 14,777 shares of the industrial products company’s stock worth $716,000 after buying an additional 1,989 shares in the last quarter. Bank of America Corp DE increased its stake in Flowserve Corporation by 21.1% in the first quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock worth $25,686,000 after buying an additional 92,488 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Flowserve Corporation by 62.6% in the first quarter. Great Lakes Advisors LLC now owns 132,719 shares of the industrial products company’s stock worth $6,426,000 after buying an additional 51,097 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Flowserve Corporation by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,682 shares of the industrial products company’s stock worth $469,000 after buying an additional 2,204 shares in the last quarter.

Flowserve Corporation Company Profile

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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