Fluor Corporation (FLR) Receives “Neutral” Rating from Seaport Global Securities
Fluor Corporation (NYSE:FLR)‘s stock had its “neutral” rating reissued by stock analysts at Seaport Global Securities in a note issued to investors on Wednesday. They currently have a $44.00 price objective on the construction company’s stock. Seaport Global Securities’ target price would suggest a potential upside of 3.26% from the stock’s previous close.
Several other research firms also recently weighed in on FLR. BidaskClub upgraded shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. DA Davidson downgraded shares of Fluor Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $48.00 in a research note on Friday, August 4th. Deutsche Bank AG downgraded shares of Fluor Corporation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $40.00 in a research note on Friday, August 4th. KeyCorp reiterated a “buy” rating and issued a $50.00 target price on shares of Fluor Corporation in a research note on Friday, September 22nd. Finally, Johnson Rice downgraded shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and reduced their target price for the stock from $62.00 to $48.00 in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Fluor Corporation currently has an average rating of “Hold” and a consensus price target of $48.00.
Fluor Corporation (FLR) traded up 0.14% during mid-day trading on Wednesday, reaching $42.61. The company has a market capitalization of $5.96 billion, a P/E ratio of 53.20 and a beta of 1.40. The stock has a 50 day moving average price of $40.46 and a 200 day moving average price of $44.82. Fluor Corporation has a 52-week low of $37.04 and a 52-week high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. Equities analysts forecast that Fluor Corporation will post $1.49 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC purchased a new position in Fluor Corporation during the first quarter valued at approximately $124,000. Huntington National Bank grew its stake in Fluor Corporation by 27.2% during the second quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock valued at $159,000 after acquiring an additional 741 shares in the last quarter. Smithfield Trust Co. grew its stake in Fluor Corporation by 393.3% during the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after acquiring an additional 2,950 shares in the last quarter. Captrust Financial Advisors purchased a new position in Fluor Corporation during the second quarter valued at approximately $169,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the first quarter valued at approximately $175,000. 84.45% of the stock is owned by institutional investors.
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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