Fluor Corp. (FLR) Stock Rating Lowered by Seaport Global Securities
Fluor Corp. (NYSE:FLR) was downgraded by equities researchers at Seaport Global Securities from an “accumulate” rating to a “neutral” rating in a report issued on Friday, The Fly reports.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of 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 price target on shares of Fluor Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 31st. DA Davidson restated a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. Janney Montgomery Scott restated a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. Finally, Bank of America Corp. restated a “sell” rating and set a $50.00 price target on shares of Fluor Corp. in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.00.
Fluor Corp. (NYSE:FLR) opened at 50.32 on Friday. The firm’s 50-day moving average price is $50.60 and its 200-day moving average price is $51.80. Fluor Corp. has a 52 week low of $39.48 and a 52 week high of $55.69. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 22.01 and a beta of 1.74.
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Fluor Corp. (NYSE:FLR) last released its earnings results on Thursday, August 4th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by $0.16. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.73 billion. Fluor Corp. had a return on equity of 15.45% and a net margin of 1.81%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. On average, equities analysts expect that Fluor Corp. will post $3.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, August 31st. Fluor Corp.’s dividend payout ratio is presently 37.00%.
A number of hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI raised its stake 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 in the last quarter. BlueMountain Capital Management LLC raised its stake 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 in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in Fluor Corp. during the second quarter worth approximately $128,000. Investment Counselors of Maryland LLC raised its stake 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 in the last quarter. Finally, Assetmark Inc. acquired a new stake in Fluor Corp. during the second quarter worth approximately $179,000. 84.36% of the stock is owned by hedge funds and other institutional investors.
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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