Fluor Corp. (FLR) Stock Rating Lowered by Seaport Global Securities
Fluor Corp. (NYSE:FLR) was downgraded by Seaport Global Securities from an “accumulate” rating to a “neutral” rating in a report released on Friday, The Fly reports.
Several other research firms have also recently weighed in on FLR. Zacks Investment Research cut Fluor Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Credit Suisse Group AG set a $59.00 target price on Fluor Corp. and gave the company a “buy” rating in a research note on Wednesday, August 31st. MKM Partners initiated coverage on Fluor Corp. in a research note on Wednesday, June 29th. They set a “neutral” rating and a $52.00 target price on the stock. Janney Montgomery Scott reaffirmed a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Fluor Corp. has an average rating of “Hold” and an average target price of $53.00.
Shares of Fluor Corp. (NYSE:FLR) opened at 50.32 on Friday. Fluor Corp. has a 12 month low of $39.48 and a 12 month high of $55.69. The firm has a market cap of $7.01 billion, a P/E ratio of 22.01 and a beta of 1.74. The firm has a 50-day moving average of $50.60 and a 200 day moving average of $51.80.
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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. The company earned $4.86 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Fluor Corp. had a return on equity of 15.45% and a net margin of 1.81%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. On average, equities research analysts anticipate that Fluor Corp. will post $3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.67%. Fluor Corp.’s dividend payout ratio (DPR) is presently 37.00%.
Hedge funds and other institutional investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its position in shares of Fluor Corp. by 84.7% in the first quarter. TIAA CREF Investment Management LLC now owns 505,457 shares of the company’s stock worth $27,143,000 after buying an additional 231,829 shares during the period. BlackRock Group LTD raised its position in shares of Fluor Corp. by 1.2% in the first quarter. BlackRock Group LTD now owns 1,149,752 shares of the company’s stock worth $61,741,000 after buying an additional 13,355 shares during the period. Aviva PLC raised its position in shares of Fluor Corp. by 0.7% in the first quarter. Aviva PLC now owns 73,489 shares of the company’s stock worth $3,946,000 after buying an additional 489 shares during the period. Credit Agricole S A raised its position in shares of Fluor Corp. by 17.1% in the first quarter. Credit Agricole S A now owns 93,064 shares of the company’s stock worth $4,998,000 after buying an additional 13,566 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Fluor Corp. by 16.5% in the first quarter. Canada Pension Plan Investment Board now owns 279,667 shares of the company’s stock worth $15,018,000 after buying an additional 39,700 shares during the period. Institutional investors own 84.36% of the company’s stock.
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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