Flowserve Corp (NYSE:FLS) declared a quarterly dividend on Friday, August 14th, RTT News reports. Stockholders of record on Friday, September 18th will be paid a dividend of 0.20 per share by the industrial products company on Friday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Thursday, September 17th.
Flowserve has raised its dividend by 25.0% over the last three years and has increased its dividend every year for the last 1 years. Flowserve has a dividend payout ratio of 49.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $1.60 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 50.0%.
Shares of NYSE:FLS opened at $28.19 on Wednesday. The firm has a market capitalization of $3.67 billion, a PE ratio of 25.17, a P/E/G ratio of 3.38 and a beta of 1.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.23 and a quick ratio of 1.60. The business has a 50-day moving average of $29.68 and a two-hundred day moving average of $28.08. Flowserve has a 12 month low of $18.98 and a 12 month high of $51.25.
A number of research analysts recently commented on the company. Royal Bank of Canada increased their target price on Flowserve from $26.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Cowen downgraded Flowserve from an “outperform” rating to a “market perform” rating and set a $30.00 target price on the stock. in a report on Monday, July 6th. UBS Group reduced their target price on Flowserve from $52.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Oppenheimer reaffirmed a “hold” rating on shares of Flowserve in a report on Thursday, July 30th. Finally, ValuEngine upgraded Flowserve from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Flowserve currently has a consensus rating of “Hold” and an average price target of $31.00.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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