Fluor Corporation (FLR) Sets New 1-Year Low at $38.76
Fluor Corporation (NYSE:FLR) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $38.76 and last traded at $38.70, with a volume of 1,739,929 shares changing hands. The stock had previously closed at $39.19.
Several research analysts have commented on the stock. Credit Suisse Group set a $59.00 price objective on shares of Fluor Corporation and gave the company a “hold” rating in a report on Saturday, April 22nd. Johnson Rice downgraded shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and set a $48.00 price objective for the company. in a report on Monday. Deutsche Bank AG downgraded shares of Fluor Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $55.00 to $40.00 in a report on Friday, August 4th. DA Davidson downgraded shares of Fluor Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $48.00 in a report on Friday, August 4th. Finally, Canaccord Genuity set a $48.00 price objective on shares of Fluor Corporation and gave the company a “buy” rating in a report on Sunday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $50.10.
The company has a 50-day moving average price of $44.84 and a 200 day moving average price of $49.95. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 23.17 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Fluor Corporation will post $1.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.15%. Fluor Corporation’s dividend payout ratio is currently 106.33%.
Several institutional investors have recently modified their holdings of the company. Harbour Capital Advisors LLC bought a new position in shares of Fluor Corporation during the first quarter valued at approximately $124,000. Huntington National Bank raised its position in shares of Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock valued at $143,000 after buying an additional 531 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Fluor Corporation during the first quarter valued at approximately $175,000. FNY Partners Fund LP bought a new position in shares of Fluor Corporation during the first quarter valued at approximately $189,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Fluor Corporation during the first quarter valued at approximately $194,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
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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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