Brokerages Anticipate Fluor Co. (NYSE:FLR) to Announce $0.10 Earnings Per Share

Wall Street analysts forecast that Fluor Co. (NYSE:FLR) will announce earnings per share of $0.10 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Fluor’s earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.06. Fluor posted earnings per share of ($0.16) during the same quarter last year, which indicates a positive year over year growth rate of 162.5%. The business is expected to announce its next quarterly earnings results before the market opens on Friday, August 6th.

On average, analysts expect that Fluor will report full year earnings of $0.62 per share for the current financial year, with EPS estimates ranging from $0.57 to $0.66. For the next fiscal year, analysts expect that the company will report earnings of $1.30 per share, with EPS estimates ranging from $1.06 to $1.53. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Fluor.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Thursday, May 6th. The construction company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Fluor had a negative net margin of 1.59% and a negative return on equity of 8.63%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm posted ($1.22) EPS. The company’s revenue for the quarter was down 20.5% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on FLR shares. Zacks Investment Research raised shares of Fluor from a “strong sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Friday, April 30th. Citigroup lowered their target price on shares of Fluor from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Barclays lifted their target price on shares of Fluor from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, May 10th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Fluor presently has a consensus rating of “Hold” and a consensus price target of $19.17.

Shares of FLR stock traded down $0.49 during mid-day trading on Thursday, reaching $16.37. 1,651,632 shares of the company’s stock traded hands, compared to its average volume of 2,707,630. Fluor has a 12 month low of $8.10 and a 12 month high of $25.08. The firm’s 50 day moving average price is $18.03. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.35. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -10.05 and a beta of 2.92.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake in Fluor by 579.5% in the 1st quarter. First Trust Advisors LP now owns 141,476 shares of the construction company’s stock worth $5,206,000 after purchasing an additional 120,656 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Fluor by 51.4% in the 4th quarter. Wells Fargo & Company MN now owns 786,144 shares of the construction company’s stock worth $12,555,000 after purchasing an additional 266,747 shares in the last quarter. HighTower Advisors LLC lifted its stake in Fluor by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 24,739 shares of the construction company’s stock worth $395,000 after purchasing an additional 523 shares in the last quarter. Rhumbline Advisers lifted its stake in Fluor by 8.1% in the 4th quarter. Rhumbline Advisers now owns 452,645 shares of the construction company’s stock worth $7,229,000 after purchasing an additional 33,905 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Fluor in the 4th quarter worth $266,000. Institutional investors own 72.83% of the company’s stock.

About Fluor

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

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