Fluor Co. (NYSE:FLR) Expected to Earn Q2 2024 Earnings of $0.67 Per Share

Fluor Co. (NYSE:FLR) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for Fluor in a note issued to investors on Tuesday, May 7th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings of $0.67 per share for the quarter. The consensus estimate for Fluor’s current full-year earnings is $2.84 per share. DA Davidson also issued estimates for Fluor’s FY2024 earnings at $2.75 EPS.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.07). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS.

Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. KeyCorp began coverage on Fluor in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Citigroup raised their price target on Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Truist Financial reiterated a “buy” rating and issued a $47.00 price objective (up previously from $46.00) on shares of Fluor in a research note on Monday. Finally, Robert W. Baird lifted their target price on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

Fluor Stock Performance

Shares of FLR opened at $38.51 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. Fluor has a 52-week low of $25.69 and a 52-week high of $43.24. The stock has a 50 day moving average price of $39.85 and a 200 day moving average price of $38.47. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 3.08 and a beta of 2.11.

Hedge Funds Weigh In On Fluor

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of Fluor during the fourth quarter worth about $27,000. Rise Advisors LLC acquired a new position in Fluor during the 1st quarter worth approximately $28,000. BKM Wealth Management LLC purchased a new position in shares of Fluor during the 4th quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Fluor in the 4th quarter valued at approximately $34,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Fluor during the fourth quarter worth $36,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.