Fluor Corporation (FLR) Expected to Post Quarterly Sales of $4.86 Billion
Analysts predict that Fluor Corporation (NYSE:FLR) will announce $4.86 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Fluor Corporation’s earnings, with the lowest sales estimate coming in at $4.73 billion and the highest estimate coming in at $4.95 billion. Fluor Corporation reported sales of $4.77 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The business is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Fluor Corporation will report full year sales of $4.86 billion for the current financial year, with estimates ranging from $18.79 billion to $19.81 billion. For the next fiscal year, analysts expect that the firm will post sales of $19.45 billion per share, with estimates ranging from $17.62 billion to $21.35 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Fluor Corporation.
Fluor Corporation (NYSE:FLR) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. The firm 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 business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share.
Several equities analysts recently issued reports on FLR shares. Johnson Rice lowered Fluor Corporation from a “buy” rating to an “accumulate” rating and decreased their target price for the stock from $62.00 to $48.00 in a research note on Monday. DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Thursday, June 1st. Canaccord Genuity raised 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 raised Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Monday, May 1st. Finally, Credit Suisse Group set a $59.00 target price on Fluor Corporation and gave the stock a “hold” rating in a research note on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Fluor Corporation presently has an average rating of “Hold” and an average price target of $50.10.
Fluor Corporation (NYSE:FLR) opened at 38.81 on Friday. The firm has a 50-day moving average price of $44.19 and a 200 day moving average price of $49.56. Fluor Corporation has a 1-year low of $38.42 and a 1-year high of $58.37. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 48.45 and a beta of 1.39.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 annualized dividend and a yield of 2.16%. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Vanguard Group Inc. increased its position in 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 position in Fluor Corporation by 4.1% in the first quarter. Clearbridge Investments LLC now owns 12,415,798 shares of the construction company’s stock worth $653,319,000 after buying an additional 487,187 shares during the last quarter. BlackRock Inc. increased its position in Fluor Corporation by 4.7% in the second quarter. BlackRock Inc. now owns 9,447,760 shares of the construction company’s stock worth $432,519,000 after buying an additional 422,641 shares during the last quarter. CI Global Investments Inc. increased its position in Fluor Corporation by 66.8% in the second quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock worth $216,165,000 after buying an additional 1,890,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in 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 worth $116,926,000 after buying an additional 47,809 shares during the last quarter. Institutional investors and hedge funds own 82.77% 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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