Fluor Corporation Expected to Post Q3 2017 Earnings of $0.60 Per Share (FLR)
Fluor Corporation (NYSE:FLR) – Equities research analysts at Seaport Global Securities issued their Q3 2017 earnings per share estimates for shares of Fluor Corporation in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Shlisky expects that the construction company will earn $0.60 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating and a $44.00 target price on the stock. Seaport Global Securities also issued estimates for Fluor Corporation’s Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $1.56 EPS, Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.72 EPS and FY2018 earnings at $2.53 EPS.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the Zacks’ 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 net margin of 0.58% and a return on equity of 13.80%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS.
Several other research analysts also recently commented on FLR. BidaskClub downgraded shares of Fluor Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Deutsche Bank AG downgraded 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, August 4th. DA Davidson downgraded shares of Fluor Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $48.00 in a research note on Friday, August 4th. Canaccord Genuity set a $48.00 target price on shares of Fluor Corporation and gave the stock a “buy” rating in a research note on Sunday, August 6th. Finally, Johnson Rice downgraded shares of 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, August 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $48.00.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, August 31st. Fluor Corporation’s payout ratio is currently 106.33%.
A number of institutional investors have recently modified their holdings of FLR. Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the 1st quarter valued at $175,000. Victory Capital Management Inc. increased its position in Fluor Corporation by 624.5% during the 1st quarter. Victory Capital Management Inc. now owns 18,961 shares of the construction company’s stock valued at $998,000 after purchasing an additional 16,344 shares during the period. Neuberger Berman Group LLC increased its position in Fluor Corporation by 10.4% during the 1st quarter. Neuberger Berman Group LLC now owns 29,742 shares of the construction company’s stock valued at $1,565,000 after purchasing an additional 2,796 shares during the period. OppenheimerFunds Inc. increased its position in Fluor Corporation by 14.9% during the 1st quarter. OppenheimerFunds Inc. now owns 45,801 shares of the construction company’s stock valued at $2,410,000 after purchasing an additional 5,948 shares during the period. Finally, Principal Financial Group Inc. increased its position in Fluor Corporation by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 211,245 shares of the construction company’s stock valued at $11,115,000 after purchasing an additional 2,793 shares during the period. 84.45% of the stock is currently owned by institutional investors and hedge funds.
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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