According to Zacks, “Fluor has had a dismal earnings surprise history, with negative surprises in three of the four trailing quarters. The company’s top line growth has suffered lately, owing to reduced contribution from its Energy, Chemicals and Mining segment. Softness in commodity prices coupled with a dismal outlook for the energy and mining markets continue to pose threats to the company’s operations. The company expects slow recovery in the global economy, as customers continue to reduce capital investment budgets and delay final investment decisions, which could impact Fluor’s performance adversely. Also, Fluor faces intense competition in the global engineering, procurement and construction industry, which can pressurize its contract prices and profit margins. However, Fluor’s robust backlog level, with lucrative award wins in the Government and Infrastructure business lines, are likely to act as primary growth drivers, going forward.”
FLR has been the subject of several other reports. Credit Suisse Group AG set a $59.00 price target on Fluor Corp. and gave the company a buy rating in a research report on Wednesday, August 31st. MKM Partners began coverage on Fluor Corp. in a research report on Wednesday, June 29th. They set a neutral rating and a $52.00 target price for the company. DA Davidson restated a buy rating on shares of Fluor Corp. in a research report on Friday, August 5th. Bank of America Corp. restated a sell rating and set a $50.00 target price on shares of Fluor Corp. in a research report on Friday, August 5th. Finally, Janney Montgomery Scott restated a buy rating on shares of Fluor Corp. in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $53.00.
Fluor Corp. (NYSE:FLR) opened at 50.67 on Wednesday. The firm has a 50-day moving average price of $50.86 and a 200 day moving average price of $51.89. The company has a market capitalization of $7.06 billion, a P/E ratio of 22.17 and a beta of 1.74. Fluor Corp. has a 52-week low of $39.48 and a 52-week high of $55.69.
Fluor Corp. (NYSE:FLR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by $0.16. The company earned $4.86 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Fluor Corp. had a net margin of 1.81% and a return on equity of 15.45%. Fluor Corp.’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. On average, analysts predict that Fluor Corp. will post $3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 2nd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Wednesday, August 31st. Fluor Corp.’s payout ratio is 37.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Citizens Financial Group Inc RI raised its position in Fluor Corp. by 11.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,006 shares of the company’s stock worth $108,000 after buying an additional 200 shares during the last quarter. BlueMountain Capital Management LLC raised its position in Fluor Corp. by 107.3% in the first quarter. BlueMountain Capital Management LLC now owns 2,303 shares of the company’s stock worth $124,000 after buying an additional 1,192 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Fluor Corp. during the second quarter worth approximately $128,000. Investment Counselors of Maryland LLC raised its position in Fluor Corp. by 3.4% in the second quarter. Investment Counselors of Maryland LLC now owns 3,022 shares of the company’s stock worth $149,000 after buying an additional 100 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Fluor Corp. by 23.3% in the first quarter. IFP Advisors Inc now owns 2,801 shares of the company’s stock worth $150,000 after buying an additional 529 shares during the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.
About Fluor Corp.
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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