Research Analysts Offer Predictions for Fluor Corp.’s FY2017 Earnings (FLR)
Fluor Corp. (NYSE:FLR) – Stock analysts at KeyCorp decreased their FY2017 earnings per share (EPS) estimates for Fluor Corp. in a research note issued on Monday. KeyCorp analyst T. Afzal now expects that the brokerage will earn $3.26 per share for the year, down from their prior forecast of $3.36.
FLR has been the subject of several other research reports. Credit Suisse Group AG restated a “buy” rating on shares of Fluor Corp. in a report on Saturday, June 4th. MKM Partners assumed coverage on shares of Fluor Corp. in a report on Wednesday, June 29th. They issued a “neutral” rating and a $52.00 target price for the company. Bank of America Corp. restated a “sell” rating and issued a $50.00 target price on shares of Fluor Corp. in a report on Friday, August 5th. DA Davidson restated a “buy” rating on shares of Fluor Corp. in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of Fluor Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.00.
Shares of Fluor Corp. (NYSE:FLR) opened at 50.20 on Wednesday. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 21.96 and a beta of 1.85. Fluor Corp. has a 52-week low of $39.48 and a 52-week high of $55.69. The company’s 50-day moving average is $51.36 and its 200 day moving average is $52.04.
Fluor Corp. (NYSE:FLR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by $0.16. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.73 billion. Fluor Corp. had a net margin of 1.81% and a return on equity of 15.45%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Friday, September 2nd will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.67%. Fluor Corp.’s dividend payout ratio is presently 37.00%.
Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management AG increased its position in shares of Fluor Corp. by 428.9% in the second quarter. Allianz Asset Management AG now owns 5,320,525 shares of the company’s stock worth $262,195,000 after buying an additional 4,314,501 shares in the last quarter. Norges Bank bought a new position in shares of Fluor Corp. during the fourth quarter worth about $62,003,000. Ameriprise Financial Inc. increased its position in shares of Fluor Corp. by 779.1% in the second quarter. Ameriprise Financial Inc. now owns 970,956 shares of the company’s stock worth $47,852,000 after buying an additional 860,507 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Fluor Corp. by 3,089.0% in the second quarter. Janus Capital Management LLC now owns 645,607 shares of the company’s stock worth $31,815,000 after buying an additional 625,362 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Fluor Corp. by 226.0% in the second quarter. AQR Capital Management LLC now owns 429,070 shares of the company’s stock worth $21,145,000 after buying an additional 297,441 shares in the last quarter. Institutional investors and hedge funds own 84.35% of the company’s stock.
About Fluor Corp.
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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