Fluor Corporation (FLR) Stock Rating Lowered by DA Davidson
Fluor Corporation (NYSE:FLR) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday.
Several other research analysts have also recently issued reports on FLR. Credit Suisse Group set a $59.00 price objective on shares of Fluor Corporation and gave the company a “hold” rating in a report on Saturday, April 22nd. Zacks Investment Research upgraded shares of Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Monday, May 1st. Canaccord Genuity upgraded shares of Fluor Corporation from a “hold” rating to a “buy” rating and decreased their price objective for the company from $57.00 to $55.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Fluor Corporation presently has a consensus rating of “Hold” and an average price target of $53.10.
Fluor Corporation (FLR) traded down 8.66% during midday trading on Friday, hitting $40.06. 8,168,038 shares of the stock were exchanged. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 23.70 and a beta of 1.39. Fluor Corporation has a 52 week low of $38.78 and a 52 week high of $58.37. The firm’s 50-day moving average is $45.12 and its 200 day moving average is $50.11.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.83%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. Equities research analysts expect that Fluor Corporation will post $2.38 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Fluor Corporation by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,312,237 shares of the construction company’s stock worth $700,490,000 after buying an additional 460,481 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Fluor Corporation by 4.1% in the first quarter. Clearbridge Investments LLC now owns 12,415,798 shares of the construction company’s stock valued at $653,319,000 after buying an additional 487,187 shares during the period. BlackRock Inc. increased its stake in shares of Fluor Corporation by 3,137.9% in the first quarter. BlackRock Inc. now owns 9,025,119 shares of the construction company’s stock valued at $474,903,000 after buying an additional 8,746,386 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Fluor Corporation by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,222,103 shares of the construction company’s stock valued at $116,926,000 after buying an additional 47,809 shares during the period. Finally, Boston Partners increased its stake in shares of Fluor Corporation by 3.9% in the second quarter. Boston Partners now owns 1,812,304 shares of the construction company’s stock valued at $82,967,000 after buying an additional 68,241 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.
About Fluor Corporation
Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.
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