KeyCorp Analysts Decrease Earnings Estimates for Fluor Corporation (FLR)
Fluor Corporation (NYSE:FLR) – KeyCorp lowered their Q4 2017 earnings per share (EPS) estimates for shares of Fluor Corporation in a research note issued on Thursday. KeyCorp analyst T. Afzal now expects that the construction company will post earnings per share of $0.68 for the quarter, down from their previous forecast of $0.78. KeyCorp also issued estimates for Fluor Corporation’s FY2018 earnings at $2.68 EPS.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/08/07/keycorp-analysts-decrease-earnings-estimates-for-fluor-corporation-flr.html.
FLR has been the topic of a number of other reports. Credit Suisse Group decreased their price objective on shares of Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. Canaccord Genuity raised shares of Fluor Corporation from a “hold” rating to a “buy” rating and decreased their target price for the stock from $57.00 to $55.00 in a research note on Monday, May 15th. Zacks Investment Research cut shares of Fluor Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub raised shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Deutsche Bank AG cut shares of Fluor Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $40.00 in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Fluor Corporation presently has a consensus rating of “Hold” and an average target price of $52.40.
Shares of Fluor Corporation (NYSE FLR) opened at 40.06 on Monday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 23.70 and a beta of 1.39. The company’s 50-day moving average price is $45.12 and its 200-day moving average price is $50.11. Fluor Corporation has a 52-week low of $38.78 and a 52-week high of $58.37.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.10%. Fluor Corporation’s dividend payout ratio is currently 106.33%.
Institutional investors have recently made changes to their positions in the stock. Harbour Capital Advisors LLC bought a new position in shares of Fluor Corporation during the first quarter valued at $124,000. Huntington National Bank raised its position in shares of Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock valued at $143,000 after buying an additional 531 shares in the last quarter. Smithfield Trust Co. raised its position in shares of Fluor Corporation by 393.3% in the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after buying an additional 2,950 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Fluor Corporation during the first quarter valued at $175,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Fluor Corporation by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock valued at $183,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Fluor Corporation Company Profile
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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