Fluor Co. (NEW) Stock Rating Reaffirmed by Zacks (FLR)
Fluor Co. (NEW) (NYSE:FLR)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday. They currently have a $83.00 target price on the stock. Zacks‘s target price indicates a potential upside of 5.08% from the stock’s previous close.
Zacks’ analyst wrote, “Fluor Corporation is one of the largest professional services firms providing engineering, procurement, construction and maintenance. We are reaffirming our neutral recommendation on the company with a target price of $83. The company posted weak first quarter 2014 earnings with decline in both earnings and revenues. The company has a strong foothold in the nuclear industry and has been benefiting from the nuclear remediation at U.S. government facilities. However, its major portion of revenues is derived from its Industrial & Infrastructure segment which been slumping for the last few quarters due to the dismal performance of the mining and metals business.”
A number of other analysts have also recently weighed in on FLR. Analysts at Global Hunter Securities initiated coverage on shares of Fluor Co. (NEW) in a research note on Thursday, June 19th. They set an “accumulate” rating and a $87.00 price target on the stock. Separately, analysts at S&P Equity Research upgraded shares of Fluor Co. (NEW) to a “buy” rating in a research note on Tuesday, May 6th. Finally, analysts at Canaccord Genuity cut their price target on shares of Fluor Co. (NEW) from $92.00 to $89.00 in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $91.00.
Shares of Fluor Co. (NYSE:FLR) traded up 1.39% on Friday, hitting $78.99. The stock had a trading volume of 815,068 shares. Fluor Co. has a 52-week low of $57.50 and a 52-week high of $83.93. The stock has a 50-day moving average of $76.44 and a 200-day moving average of $77.25. The company has a market cap of $12.571 billion and a price-to-earnings ratio of 19.67.
Fluor Co. (NEW) (NYSE:FLR) last released its earnings data on Thursday, May 1st. The company reported $0.92 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.97 by $0.05. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter last year, the company posted $1.02 earnings per share. Fluor Co. (NEW)’s revenue was down 25.1% compared to the same quarter last year. On average, analysts predict that Fluor Co. will post $4.24 earnings per share for the current fiscal year.
Fluor Corporation (NYSE:FLR) is a holding company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.