Zacks Investment Research upgraded shares of Fluor Corporation (NYSE:FLR) from a strong sell rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Fluor’s third-quarter adjusted earnings from continuing operations came in at 67 cents, topping the Zacks Consensus Estimate by 15.5%. The company’s leading position in nuclear remediation at government facilities is a positive. Its market diversity as well as strong focus on streamlining business structure to boost profitability is expected to boost growth, going forward. Also, stabilizing commodity prices and gradual improvement in energy and mining sectors are anticipated to unlock further opportunities of growth. However, over the past six months, Fluor’s shares have underperformed the industry average. The company is facing a dearth of new awards which may impact growth prospects significantly. Fluor has also been witnessing continuous backlog erosion over the past few quarters, adding to its concerns.”

Other analysts have also issued research reports about the company. Credit Suisse Group decreased their price objective on Fluor Corporation from $43.00 to $41.00 and set a neutral rating on the stock in a research note on Friday, November 3rd. Citigroup Inc. set a $53.00 price objective on Fluor Corporation and gave the company a buy rating in a research note on Friday, October 27th. KeyCorp reissued a buy rating and issued a $50.00 price target on shares of Fluor Corporation in a research note on Friday, September 22nd. Robert W. Baird reissued a hold rating and issued a $40.00 price target on shares of Fluor Corporation in a research note on Tuesday, September 5th. Finally, Johnson Rice lowered Fluor Corporation from a buy rating to an accumulate rating and decreased their price target for the stock from $62.00 to $48.00 in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $47.45.

Fluor Corporation (NYSE FLR) traded down $0.01 on Tuesday, hitting $47.04. The company had a trading volume of 895,200 shares, compared to its average volume of 1,419,585. The company has a current ratio of 1.56, a quick ratio of 1.18 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6,581.13, a price-to-earnings ratio of 16.92, a P/E/G ratio of 3.28 and a beta of 1.42. Fluor Corporation has a fifty-two week low of $37.03 and a fifty-two week high of $58.37.

Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.73 billion. Fluor Corporation had a return on equity of 11.69% and a net margin of 1.03%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. research analysts forecast that Fluor Corporation will post 1.56 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 5th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.79%. Fluor Corporation’s dividend payout ratio (DPR) is 58.74%.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Fluor Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,657,238 shares of the construction company’s stock worth $625,228,000 after purchasing an additional 345,001 shares during the period. BlackRock Inc. raised its holdings in shares of Fluor Corporation by 4.7% in the 2nd quarter. BlackRock Inc. now owns 9,447,760 shares of the construction company’s stock worth $432,519,000 after purchasing an additional 422,641 shares during the period. CI Global Investments Inc. raised its holdings in shares of Fluor Corporation by 66.8% in the 2nd quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock worth $216,165,000 after purchasing an additional 1,890,300 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Fluor Corporation by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,294,655 shares of the construction company’s stock worth $105,040,000 after purchasing an additional 72,552 shares during the period. Finally, Boston Partners raised its holdings in shares of Fluor Corporation by 2.5% in the 3rd quarter. Boston Partners now owns 1,858,440 shares of the construction company’s stock worth $78,240,000 after purchasing an additional 46,136 shares during the period. Institutional investors own 84.06% of the company’s stock.

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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Analyst Recommendations for Fluor Corporation (NYSE:FLR)

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