Wall Street brokerages expect that Fluor Co. (NEW) (NYSE:FLR) will report $4.99 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Fluor Co. (NEW)’s earnings. The lowest sales estimate is $4.83 billion and the highest is $5.10 billion. Fluor Co. (NEW) reported sales of $4.94 billion during the same quarter last year, which indicates a positive year over year growth rate of 1%. The business is expected to announce its next earnings report on Thursday, November 1st.
On average, analysts expect that Fluor Co. (NEW) will report full year sales of $19.64 billion for the current fiscal year, with estimates ranging from $19.08 billion to $19.91 billion. For the next financial year, analysts forecast that the business will report sales of $20.48 billion per share, with estimates ranging from $18.88 billion to $22.00 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Fluor Co. (NEW).
Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.11. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Fluor Co. (NEW) had a return on equity of 11.63% and a net margin of 1.28%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share.
A number of brokerages have issued reports on FLR. Canaccord Genuity upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday. MKM Partners lowered their price objective on Fluor Co. (NEW) to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, May 8th. Zacks Investment Research cut Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, Robert W. Baird cut Fluor Co. (NEW) from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $62.09 to $37.04 in a research note on Friday, May 4th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.29.
Several hedge funds have recently bought and sold shares of FLR. Ashler Capital LLC raised its stake in shares of Fluor Co. (NEW) by 27.2% in the second quarter. Ashler Capital LLC now owns 5,099,250 shares of the construction company’s stock worth $248,741,000 after purchasing an additional 1,091,110 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Fluor Co. (NEW) by 111.9% in the first quarter. OppenheimerFunds Inc. now owns 1,719,912 shares of the construction company’s stock worth $98,414,000 after purchasing an additional 908,181 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Fluor Co. (NEW) by 62.3% in the second quarter. Bank of America Corp DE now owns 2,256,406 shares of the construction company’s stock worth $110,066,000 after purchasing an additional 866,355 shares during the last quarter. Eaton Vance Management purchased a new position in shares of Fluor Co. (NEW) in the first quarter worth $44,919,000. Finally, Eagle Asset Management Inc. purchased a new position in shares of Fluor Co. (NEW) in the second quarter worth $37,756,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.
NYSE:FLR traded up $0.08 during trading hours on Friday, reaching $56.90. 18,330 shares of the company traded hands, compared to its average volume of 1,468,743. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 0.71 and a beta of 1.40. Fluor Co. has a 1 year low of $37.03 and a 1 year high of $62.09. The company has a current ratio of 1.45, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, August 31st. Fluor Co. (NEW)’s dividend payout ratio is currently 51.53%.
About Fluor Co. (NEW)
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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