Fluor Co. (NEW) (NYSE:FLR) Trading Down 8.5%

Fluor Co. (NEW) (NYSE:FLR)’s stock price was down 8.5% during mid-day trading on Tuesday . The stock traded as low as $18.33 and last traded at $18.95, approximately 4,640,130 shares were traded during mid-day trading. An increase of 92% from the average daily volume of 2,421,567 shares. The stock had previously closed at $20.70.

Several equities research analysts have recently issued reports on FLR shares. Canaccord Genuity raised Fluor Co. (NEW) from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Thursday, August 22nd. Barclays reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Fluor Co. (NEW) in a research note on Sunday, August 4th. Citigroup lowered their price objective on Fluor Co. (NEW) from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Credit Suisse Group lowered their price objective on Fluor Co. (NEW) from $41.00 to $31.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Bank of America started coverage on Fluor Co. (NEW) in a research note on Thursday, August 22nd. They issued an “underperform” rating and a $17.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $34.45.

The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.82 billion, a P/E ratio of 8.81 and a beta of 2.20. The stock has a 50 day moving average of $18.95 and a 200-day moving average of $29.94.



Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.19). Fluor Co. (NEW) had a positive return on equity of 7.09% and a negative net margin of 2.74%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the business posted $0.81 earnings per share. Fluor Co. (NEW)’s revenue was down 16.2% on a year-over-year basis. Research analysts anticipate that Fluor Co. will post 0.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Tuesday, September 3rd. Fluor Co. (NEW)’s dividend payout ratio is currently 39.07%.

Several hedge funds have recently modified their holdings of FLR. Rehmann Capital Advisory Group increased its holdings in Fluor Co. (NEW) by 133.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 730 shares of the construction company’s stock worth $27,000 after purchasing an additional 417 shares during the period. Institutional & Family Asset Management LLC increased its holdings in Fluor Co. (NEW) by 211.7% during the 1st quarter. Institutional & Family Asset Management LLC now owns 957 shares of the construction company’s stock worth $35,000 after purchasing an additional 650 shares during the period. TRUE Private Wealth Advisors purchased a new position in Fluor Co. (NEW) during the 2nd quarter worth $35,000. YorkBridge Wealth Partners LLC increased its holdings in Fluor Co. (NEW) by 50.8% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,292 shares of the construction company’s stock worth $48,000 after purchasing an additional 435 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Fluor Co. (NEW) by 34.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the construction company’s stock worth $55,000 after purchasing an additional 381 shares during the period. 89.75% of the stock is owned by hedge funds and other institutional investors.

Fluor Co. (NEW) Company Profile (NYSE:FLR)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.

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