KeyCorp Brokers Reduce Earnings Estimates for Fluor Corp. (FLR)
Fluor Corp. (NYSE:FLR) – Analysts at KeyCorp reduced their FY2017 EPS estimates for shares of Fluor Corp. in a research note issued to investors on Monday. KeyCorp analyst T. Afzal now expects that the brokerage will earn $3.26 per share for the year, down from their previous forecast of $3.36.
Fluor Corp. (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.16. Fluor Corp. had a return on equity of 15.45% and a net margin of 1.81%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. Fluor Corp.’s revenue was up 1.0% on a year-over-year basis.
Several other research firms have also issued reports on FLR. Zacks Investment Research raised Fluor Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Bank of America Corp. reissued a “sell” rating and set a $50.00 target price on shares of Fluor Corp. in a research note on Friday, August 5th. Credit Suisse Group AG reissued an “outperform” rating and set a $62.00 target price on shares of Fluor Corp. in a research note on Wednesday, July 6th. Janney Montgomery Scott reissued a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. Finally, MKM Partners set a $52.00 target price on Fluor Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.00.
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Shares of Fluor Corp. (NYSE:FLR) traded up 0.64% during midday trading on Wednesday, hitting $48.85. The stock had a trading volume of 618,775 shares. The stock has a market cap of $6.80 billion, a PE ratio of 21.37 and a beta of 1.85. Fluor Corp. has a one year low of $39.48 and a one year high of $55.69. The firm has a 50 day moving average price of $51.54 and a 200 day moving average price of $52.07.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management AG increased its position in Fluor Corp. by 428.9% in the second quarter. Allianz Asset Management AG now owns 5,320,525 shares of the company’s stock worth $262,195,000 after buying an additional 4,314,501 shares in the last quarter. Norges Bank purchased a new position in Fluor Corp. during the fourth quarter worth about $62,003,000. Ameriprise Financial Inc. increased its position in Fluor Corp. by 779.1% in the second quarter. Ameriprise Financial Inc. now owns 970,956 shares of the company’s stock worth $47,852,000 after buying an additional 860,507 shares in the last quarter. Janus Capital Management LLC increased its position in Fluor Corp. by 3,089.0% in the second quarter. Janus Capital Management LLC now owns 645,607 shares of the company’s stock worth $31,815,000 after buying an additional 625,362 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Fluor Corp. by 226.0% in the second quarter. AQR Capital Management LLC now owns 429,070 shares of the company’s stock worth $21,145,000 after buying an additional 297,441 shares in the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. Fluor Corp.’s dividend payout ratio is presently 37.00%.
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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