Brokerages Anticipate Fluor Corporation (NYSE:FLR) Will Announce Quarterly Sales of $4.86 Billion
Wall Street brokerages expect that Fluor Corporation (NYSE:FLR) will post sales of $4.86 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Fluor Corporation’s earnings, with estimates ranging from $4.73 billion to $4.95 billion. Fluor Corporation posted sales of $4.77 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is expected to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Fluor Corporation will report full-year sales of $4.86 billion for the current financial year, with estimates ranging from $18.79 billion to $19.81 billion. For the next year, analysts anticipate that the company will report sales of $19.45 billion per share, with estimates ranging from $17.62 billion to $21.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fluor Corporation.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS.
Several equities analysts have recently weighed in on FLR shares. BidaskClub downgraded shares of Fluor Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. DA Davidson upgraded shares of Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, June 1st. Zacks Investment Research downgraded shares of Fluor Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, June 12th. Canaccord Genuity upgraded shares of Fluor Corporation from a “hold” rating to a “buy” rating and reduced their target price for the stock from $57.00 to $55.00 in a research note on Monday, May 15th. Finally, Credit Suisse Group reduced their target price on shares of Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Fluor Corporation currently has a consensus rating of “Hold” and a consensus target price of $50.10.
Several institutional investors have recently added to or reduced their stakes in FLR. Harbour Capital Advisors LLC purchased a new position in Fluor Corporation during the first quarter worth approximately $124,000. Huntington National Bank raised its position in Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock worth $143,000 after buying an additional 531 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the first quarter worth approximately $175,000. FNY Partners Fund LP purchased a new position in Fluor Corporation during the first quarter worth approximately $189,000. Finally, Captrust Financial Advisors purchased a new position in Fluor Corporation during the second quarter worth approximately $169,000. Institutional investors own 82.77% of the company’s stock.
Shares of Fluor Corporation (NYSE:FLR) opened at 38.81 on Friday. The company has a market cap of $5.43 billion, a P/E ratio of 48.45 and a beta of 1.39. Fluor Corporation has a 12-month low of $38.42 and a 12-month high of $58.37. The firm has a 50-day moving average of $44.19 and a 200-day moving average of $49.56.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.16%. Fluor Corporation’s dividend payout ratio (DPR) is currently 106.33%.
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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