Brokerages Anticipate Fluor Corporation (FLR) Will Post Quarterly Sales of $4.84 Billion
Wall Street analysts expect that Fluor Corporation (NYSE:FLR) will report sales of $4.84 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Fluor Corporation’s earnings. The highest sales estimate is $4.95 billion and the lowest is $4.73 billion. Fluor Corporation reported sales of $4.77 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.5%. The company is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Fluor Corporation will report full-year sales of $4.84 billion for the current year, with estimates ranging from $18.79 billion to $19.71 billion. For the next year, analysts anticipate that the company will post sales of $19.25 billion per share, with estimates ranging from $17.62 billion to $21.35 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Fluor Corporation.
Fluor Corporation (NYSE:FLR) last issued 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 business had revenue of $4.72 billion for 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 company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS.
A number of analysts have weighed in on FLR shares. BidaskClub lowered Fluor Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. DA Davidson upgraded Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Thursday, June 1st. Zacks Investment Research lowered Fluor Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, June 12th. Robert W. Baird reiterated a “hold” rating and issued a $40.00 target price on shares of Fluor Corporation in a research note on Tuesday, September 5th. Finally, Canaccord Genuity set a $48.00 target price on Fluor Corporation and gave the stock a “buy” rating in a research note on Sunday, August 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.18.
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Several institutional investors have recently made changes to their positions in FLR. Harbour Capital Advisors LLC purchased a new position in shares of Fluor Corporation during the first quarter valued at $124,000. Huntington National Bank increased its stake in shares of Fluor Corporation by 27.2% during the second quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock valued at $159,000 after buying an additional 741 shares during the period. Smithfield Trust Co. increased its stake in shares of Fluor Corporation by 393.3% during the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after buying an additional 2,950 shares during the period. Captrust Financial Advisors purchased a new position in shares of Fluor Corporation during the second quarter valued at $169,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Fluor Corporation during the first quarter valued at $175,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.
Fluor Corporation (NYSE FLR) opened at 40.43 on Friday. Fluor Corporation has a 12 month low of $37.04 and a 12 month high of $58.37. The firm’s 50-day moving average is $39.47 and its 200-day moving average is $46.46. The stock has a market capitalization of $5.66 billion, a P/E ratio of 50.47 and a beta of 1.41.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. Fluor Corporation’s dividend payout ratio is currently 106.33%.
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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