Fluor Corporation (FLR) Expected to Announce Quarterly Sales of $4.77 Billion

Brokerages expect that Fluor Corporation (NYSE:FLR) will report $4.77 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Fluor’s earnings, with the lowest sales estimate coming in at $4.64 billion and the highest estimate coming in at $5.02 billion. Fluor reported sales of $4.99 billion during the same quarter last year, which would indicate a negative year over year growth rate of 4.4%. The business is expected to announce its next earnings report on Friday, February 16th.

According to Zacks, analysts expect that Fluor will report full-year sales of $4.77 billion for the current year, with estimates ranging from $19.14 billion to $19.52 billion. For the next financial year, analysts anticipate that the firm will report sales of $18.40 billion per share, with estimates ranging from $17.50 billion to $19.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Fluor.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. Fluor’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS.

FLR has been the topic of a number of analyst reports. Robert W. Baird upped their price target on shares of Fluor from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. UBS Group boosted their target price on Fluor from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Stephens reissued an “overweight” rating and issued a $50.00 target price (up previously from $44.00) on shares of Fluor in a research report on Saturday, October 14th. Zacks Investment Research lowered Fluor from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Seaport Global Securities reissued a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of Fluor in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $49.08.

In other news, insider Jose Luis M. Bustamante sold 2,750 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $48.63, for a total transaction of $133,732.50. Following the completion of the sale, the insider now owns 38,757 shares of the company’s stock, valued at approximately $1,884,752.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Thomas Seaton sold 40,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $47.57, for a total transaction of $1,902,800.00. Following the sale, the chairman now directly owns 276,643 shares of the company’s stock, valued at approximately $13,159,907.51. The disclosure for this sale can be found here. In the last three months, insiders sold 45,932 shares of company stock valued at $2,191,092. 1.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. CI Global Investments Inc. increased its position in shares of Fluor by 66.8% during the 2nd quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock valued at $216,165,000 after purchasing an additional 1,890,300 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Fluor by 53.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,000,036 shares of the construction company’s stock valued at $168,402,000 after purchasing an additional 1,399,145 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Fluor during the 3rd quarter valued at about $57,365,000. Becker Capital Management Inc. purchased a new stake in shares of Fluor during the 3rd quarter valued at about $26,858,000. Finally, Janus Henderson Group PLC increased its position in shares of Fluor by 4,064.5% during the 2nd quarter. Janus Henderson Group PLC now owns 577,992 shares of the construction company’s stock valued at $26,460,000 after purchasing an additional 564,113 shares during the last quarter. 84.15% of the stock is owned by hedge funds and other institutional investors.

Fluor (FLR) opened at $53.41 on Friday. The stock has a market cap of $7,449.76, a PE ratio of 19.16, a P/E/G ratio of 2.56 and a beta of 1.47. Fluor has a one year low of $37.04 and a one year high of $58.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 5th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, December 4th. Fluor’s dividend payout ratio (DPR) is 58.74%.

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Fluor 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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