Fluor Co. (NEW) (FLR) Hits New 1-Year Low After Analyst Downgrade
Fluor Co. (NEW) (NYSE:FLR)’s share price reached a new 52-week low during mid-day trading on Tuesday after Deutsche Bank lowered their price target on the stock from $54.00 to $49.00. Deutsche Bank currently has a hold rating on the stock. Fluor Co. (NEW) traded as low as $41.42 and last traded at $41.68, with a volume of 952647 shares changing hands. The stock had previously closed at $43.65.
FLR has been the subject of several other reports. Goldman Sachs Group upgraded shares of Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a report on Thursday, October 18th. Citigroup set a $66.00 target price on shares of Fluor Co. (NEW) and gave the company a “buy” rating in a report on Thursday, October 11th. MKM Partners reiterated a “hold” rating and set a $56.00 target price on shares of Fluor Co. (NEW) in a report on Thursday, October 11th. Robert W. Baird lowered their target price on shares of Fluor Co. (NEW) from $59.00 to $50.00 and set a “hold” rating for the company in a report on Friday, November 2nd. Finally, Zacks Investment Research lowered shares of Fluor Co. (NEW) from a “strong-buy” rating to a “hold” rating in a report on Friday, October 12th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fluor Co. (NEW) has a consensus rating of “Hold” and a consensus target price of $58.36.
In other news, Chairman David Thomas Seaton purchased 5,158 shares of Fluor Co. (NEW) stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average price of $48.52 per share, with a total value of $250,266.16. Following the completion of the transaction, the chairman now directly owns 301,400 shares of the company’s stock, valued at $14,623,928. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by company insiders.
The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $6.14 billion, a P/E ratio of 25.56, a P/E/G ratio of 0.62 and a beta of 1.67.
Fluor Co. (NEW) (NYSE:FLR) last posted its earnings results on Thursday, November 1st. The construction company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Fluor Co. (NEW) had a return on equity of 11.31% and a net margin of 1.21%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $0.67 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts predict that Fluor Co. will post 2.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 4th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 3rd. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 51.53%.
Fluor Co. (NEW) Company Profile (NYSE:FLR)
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.
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