Fluor Corporation (FLR) Announces Quarterly Earnings Results
Fluor Corporation (NYSE:FLR) posted its quarterly earnings data on Thursday. The construction company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09, Bloomberg Earnings reports. Fluor Corporation had a return on equity of 11.81% and a net margin of 1.03%. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Fluor Corporation updated its FY17 guidance to $1.50-1.60 EPS.
Shares of Fluor Corporation (NYSE FLR) traded up $2.92 during midday trading on Friday, hitting $46.86. The stock had a trading volume of 2,712,342 shares, compared to its average volume of 1,340,185. The company has a current ratio of 1.50, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market cap of $6,554.54, a PE ratio of 16.86, a PEG ratio of 3.86 and a beta of 1.42.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.79%. Fluor Corporation’s dividend payout ratio is presently 58.74%.
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Several research analysts have weighed in on the company. DA Davidson cut Fluor Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $55.00 to $48.00 in a research report on Friday, August 4th. UBS Group AG (USA) boosted their price objective on Fluor Corporation from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday. KeyCorp reissued a “buy” rating and issued a $50.00 price objective on shares of Fluor Corporation in a research report on Friday, September 22nd. Johnson Rice cut Fluor Corporation from a “buy” rating to an “accumulate” rating and cut their price objective for the stock from $62.00 to $48.00 in a research report on Monday, August 7th. Finally, Robert W. Baird reissued a “hold” rating and issued a $40.00 price objective on shares of Fluor Corporation in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Fluor Corporation currently has an average rating of “Hold” and an average target price of $46.85.
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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