Analysts Expect Fluor Corporation (FLR) to Announce $0.58 Earnings Per Share
Brokerages predict that Fluor Corporation (NYSE:FLR) will post earnings of $0.58 per share for the current quarter, according to Zacks. Four analysts have made estimates for Fluor Corporation’s earnings, with estimates ranging from $0.53 to $0.65. Fluor Corporation reported earnings of $1.13 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 48.7%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that Fluor Corporation will report full-year earnings of $1.47 per share for the current year, with EPS estimates ranging from $1.39 to $1.55. For the next fiscal year, analysts expect that the firm will report earnings of $2.42 per share, with EPS estimates ranging from $2.00 to $2.75. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Fluor Corporation.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis.
Several equities research analysts have commented on FLR shares. BidaskClub lowered shares of Fluor Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Robert W. Baird reiterated a “hold” rating and set a $40.00 price objective on shares of Fluor Corporation in a research note on Tuesday, September 5th. Zacks Investment Research lowered Fluor Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, June 12th. DA Davidson cut Fluor Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $48.00 in a report on Friday, August 4th. Finally, Canaccord Genuity set a $48.00 price objective on Fluor Corporation and gave the company a “buy” rating in a report on Sunday, August 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Fluor Corporation currently has an average rating of “Hold” and a consensus price target of $49.25.
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Hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. lifted its position in shares of Fluor Corporation by 14.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 802,666 shares of the construction company’s stock valued at $42,236,000 after buying an additional 103,125 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Fluor Corporation by 10.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 18,642 shares of the construction company’s stock valued at $981,000 after acquiring an additional 1,694 shares during the period. Oxford Asset Management acquired a new stake in Fluor Corporation in the 1st quarter valued at $1,208,000. Ameritas Investment Partners Inc. acquired a new stake in Fluor Corporation in the 1st quarter valued at $175,000. Finally, Mason Street Advisors LLC grew its stake in Fluor Corporation by 1.1% in the 1st quarter. Mason Street Advisors LLC now owns 19,258 shares of the construction company’s stock valued at $1,013,000 after acquiring an additional 209 shares during the period. 84.51% of the stock is owned by institutional investors and hedge funds.
Fluor Corporation (FLR) opened at 42.81 on Wednesday. The stock has a market capitalization of $5.99 billion, a PE ratio of 53.45 and a beta of 1.40. The stock’s 50 day moving average price is $39.62 and its 200-day moving average price is $45.19. Fluor Corporation has a 52-week low of $37.04 and a 52-week high of $58.37.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 31st. Fluor Corporation’s payout ratio is currently 106.33%.
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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