Flowserve Corp (NYSE:FLS) to Issue Quarterly Dividend of $0.20

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.

Flowserve (NYSE:FLS) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.24. The business had revenue of $924.97 million during the quarter, compared to analyst estimates of $890.88 million. Flowserve had a return on equity of 14.96% and a net margin of 3.77%. As a group, research analysts anticipate that Flowserve will post 1.65 earnings per share for the current year.

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.

About Flowserve

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).

Read More: Mutual Funds

Dividend History for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.