Flowserve was the subject of a study released to the public on Thursday, and it was conducted by equity research analysts working for StockNews.com (NYSE: FLS).
The organization has suggested to its members that they “buy” the company’s shares that specialize in industrial products.
On February 22, Flowserve’s most recent quarterly earnings report (NYSE: FLS) was made available to the public.
The maker of industrial goods reported earnings per share of $0.63 for the quarter, which was $0.20 higher than the average prediction made by analysts, who had forecasted earnings of $0.43 per share.
The actual revenue the company brought in for the quarter was $1.04 billion, even though market watchers predicted that the company would bring in $1.01 billion in revenue for the quarter. Flowserve had a return on equity of 8.14 percent, and the company’s net margin was 5.22 percent. Compared to the previous fiscal year, Flowserve saw an increase in revenue that was 13.0% higher.
The current year’s profits reach $0.45 per share compared to the previous year’s results.
According to projections made by sell-side analysts, Flowserve is expected to bring in revenue of $1.66 per share this year.
NYSE: Opening The share price of FLS was $31.35 at the end of trading on Thursday.
The debt-to-equity ratio stands at 0.66, the current ratio at 1.97, and the quick ratio at 1.33.
The stock possesses favorable financial metrics across the board, including a market capitalization of $4.11 billion, a PE ratio of 21.92, a PEG ratio of 0.90, and a beta value of 1.61.
All of these metrics point to the stock’s overall profitability.
The moving average of the company’s stock price over the past 200 days is $30.77, while the moving average over the past 50 days is $34.03. Over the past year, the price of Flowserve has ranged from an all-time low of $23.89 to an all-time high of $37.59 at various points.
Several market researchers have also provided their opinions regarding the stock in various comments. Robert W.
Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and raised their price target on the stock from $32.00 to $42.00 in a research note published on Monday, February 13.
In addition, the price target on the stock was raised.
In a research report released on Monday, January 30, Bank of America stated that they had increased their price target for Flowserve from $33.00 to $40.00 and have upgraded the company from a “neutral” rating to a “buy” recommendation.
Both of these changes can be found in the same document.
They explained their choice by stating that it was derived from their situation evaluation. Citigroup raised their price objective on Flowserve shares from $32.00 to $36.00 and upgraded the company’s rating from “hold” to “buy” in a research report made available to the general public on Friday, December 9.
Mizuho increased its target price on Flowserve stock from $33.00 to $37.00 and gave the stock a “buy” rating in a research report made available to the public on Friday, January 13.
TheStreet raised its recommendation on shares of Flowserve from a “c” rating to a “b” rating in a research report published on Tuesday, February 21.
The report was about the company’s financial performance. Five different financial experts and analysts each gave the company a recommendation to buy, four different analysts each gave the company a recommendation to hold, and one different analyst each gave the company a recommendation to sell.
According to the information provided by the website Bloomberg.com, the stock currently carries a “Hold” rating across the board and has a price target of $35.00 on average.
Several hedge funds have recently adjusted their FLS positions, expanding some of them while contracting others. Compared to the previous quarter, FMR LLC’s ownership of Flowserve increased by 107.1% during the year’s second quarter.
As a result of the successful completion of the acquisitions carried out during the most recent quarter, FMR LLC now directly holds 13,106,192 shares in the industrial goods business.
These shares are valued at $375,231,000, and FMR LLC now directly holds these shares. Wellington Management Group LLP purchased a new investment in Flowserve during the first quarter of the fiscal year.
This position was worth approximately 163.840 million dollars at the time.
The Bank of New York Mellon Corporation increased the amount of Flowserve stock owned by 61.0% during the third quarter.
Bank of New York Mellon Corp. now owns a total of 4,920,393 shares of the stock of the industrial products company.
These shares have a market value of $119,564,000 and were acquired by the company by purchasing an additional 1,864,418 shares during the preceding quarter.
Millennium Management LLC completed the purchase of a new position in Flowserve shares at a total cost of approximately $25,041,000 during the final three months of 2018.
Last but certainly not least, during the final three months of the year, Norges Bank increased its holdings of Flowserve stock, which now totaled approximately $25,015,000 in total value.
Institutional investors own the vast majority of the company’s shares, 99.88%.
Flowserve Corporation is a manufacturer that also offers aftermarket services.
The company focuses on flow control systems as its primary area of expertise.
The Flowserve Pumps Division and the Flow Control Division are the two operating divisions that comprise the company.
The Flowserve Pumps Division is in charge of manufacturing a wide variety of pumps, including pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems, replacement parts, and services associated with these products.