Fluor Co. (NEW) (FLR) Expected to Post Earnings of $0.77 Per Share

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Brokerages expect that Fluor Co. (NEW) (NYSE:FLR) will announce $0.77 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Fluor Co. (NEW)’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.72. Fluor Co. (NEW) posted earnings per share of $0.67 in the same quarter last year, which would indicate a positive year over year growth rate of 14.9%. The company is expected to report its next earnings report on Thursday, November 1st.

On average, analysts expect that Fluor Co. (NEW) will report full year earnings of $2.27 per share for the current fiscal year, with EPS estimates ranging from $2.16 to $2.36. For the next fiscal year, analysts anticipate that the company will post earnings of $3.48 per share, with EPS estimates ranging from $3.26 to $3.69. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.11. Fluor Co. (NEW) had a net margin of 1.28% and a return on equity of 11.63%. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.58 billion. During the same period last year, the company posted $0.72 EPS. The company’s revenue was up 3.6% on a year-over-year basis.

A number of research analysts have recently weighed in on the stock. Canaccord Genuity raised shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine raised shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. MKM Partners dropped their price objective on shares of Fluor Co. (NEW) to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, May 8th. Finally, DA Davidson dropped their price objective on shares of Fluor Co. (NEW) from $63.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, May 4th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.29.

Shares of FLR traded up $0.05 during mid-day trading on Wednesday, reaching $56.87. 23,267 shares of the company’s stock were exchanged, compared to its average volume of 1,468,743. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.03. Fluor Co. has a 52-week low of $37.03 and a 52-week high of $62.09. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 0.71 and a beta of 1.40.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 4th will be paid a $0.21 dividend. The ex-dividend date is Friday, August 31st. This represents a $0.84 annualized dividend and a yield of 1.48%. Fluor Co. (NEW)’s payout ratio is currently 51.53%.

A number of hedge funds have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership grew its stake in Fluor Co. (NEW) by 10.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 5,865,827 shares of the construction company’s stock worth $286,135,000 after acquiring an additional 535,887 shares during the period. Ashler Capital LLC boosted its holdings in shares of Fluor Co. (NEW) by 27.2% in the 2nd quarter. Ashler Capital LLC now owns 5,099,250 shares of the construction company’s stock valued at $248,741,000 after purchasing an additional 1,091,110 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fluor Co. (NEW) by 11.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,738,292 shares of the construction company’s stock valued at $231,133,000 after purchasing an additional 475,286 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Fluor Co. (NEW) by 62.3% in the 2nd quarter. Bank of America Corp DE now owns 2,256,406 shares of the construction company’s stock valued at $110,066,000 after purchasing an additional 866,355 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Fluor Co. (NEW) by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,055,966 shares of the construction company’s stock valued at $117,642,000 after purchasing an additional 12,484 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Fluor Co. (NEW) Company Profile

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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Earnings History and Estimates for Fluor Co. (NEW) (NYSE:FLR)

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