Fluor (NYSE:FLR) Shares Gap Down After Earnings Miss

Fluor Corporation (NYSE:FLR)’s share price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $51.08, but opened at $46.15. Fluor shares last traded at $44.8250, with a volume of 1,497,507 shares traded.

The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 EPS.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of recent research reports. DA Davidson increased their target price on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Citigroup increased their target price on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Robert W. Baird increased their target price on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Zacks Research downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.33.

Insider Activity at Fluor

In related news, insider Tracey H. Cook sold 2,589 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $53.22, for a total transaction of $137,786.58. Following the completion of the sale, the insider owned 10,731 shares in the company, valued at approximately $571,103.82. This represents a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total value of $271,120.08. Following the sale, the insider owned 194,514 shares of the company’s stock, valued at approximately $10,184,753.04. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,110 shares of company stock valued at $1,168,920 in the last 90 days. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC grew its stake in shares of Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after acquiring an additional 311 shares during the period. Assetmark Inc. grew its stake in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Fluor during the 4th quarter valued at approximately $27,000. CoreCap Advisors LLC grew its stake in shares of Fluor by 129.5% during the 3rd quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock valued at $30,000 after acquiring an additional 408 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after acquiring an additional 734 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Down 12.4%

The company has a 50-day moving average price of $48.04 and a 200 day moving average price of $45.96. The firm has a market capitalization of $6.40 billion, a PE ratio of -57.42, a P/E/G ratio of 1.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.