Fluor Co. (NEW)’s (FLR) Neutral Rating Reiterated at MKM Partners

MKM Partners reissued their neutral rating on shares of Fluor Co. (NEW) (NYSE:FLR) in a research note published on Tuesday morning, The Fly reports. They currently have a $39.00 target price on the construction company’s stock.

A number of other research firms also recently issued reports on FLR. ValuEngine downgraded shares of Fluor Co. (NEW) from a hold rating to a sell rating in a report on Friday, November 23rd. Deutsche Bank dropped their target price on shares of Fluor Co. (NEW) from $54.00 to $49.00 and set a hold rating for the company in a research report on Tuesday, November 20th. 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 research report on Thursday, October 18th. Robert W. Baird dropped 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 research report on Friday, November 2nd. Finally, Citigroup set a $66.00 target price on shares of Fluor Co. (NEW) and gave the company a buy rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $56.57.

NYSE FLR opened at $36.64 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 0.28 and a beta of 1.70. Fluor Co. has a 12-month low of $29.78 and a 12-month high of $62.09.



Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data on Thursday, November 1st. The construction company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.66 billion. Fluor Co. (NEW) had a net margin of 1.21% and a return on equity of 11.31%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, research analysts forecast that Fluor Co. will post 2.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Tuesday, December 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, December 3rd. Fluor Co. (NEW)’s dividend payout ratio is 51.53%.

In related news, Chairman David Thomas Seaton acquired 5,158 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $48.52 per share, for a total transaction of $250,266.16. Following the transaction, the chairman now directly owns 301,400 shares in the company, valued at $14,623,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FLR. Bank of America Corp DE increased its position in 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 acquiring an additional 866,355 shares during the period. Point72 Asset Management L.P. acquired a new position in Fluor Co. (NEW) in the 3rd quarter valued at approximately $47,039,000. Allianz Asset Management GmbH increased its position in Fluor Co. (NEW) by 60.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,656,411 shares of the construction company’s stock valued at $96,237,000 after acquiring an additional 624,033 shares during the period. Scopus Asset Management L.P. acquired a new position in Fluor Co. (NEW) in the 3rd quarter valued at approximately $34,860,000. Finally, Janus Henderson Group PLC increased its position in Fluor Co. (NEW) by 98.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,144,660 shares of the construction company’s stock valued at $66,505,000 after acquiring an additional 567,992 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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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The Fly

Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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