Fluor (NYSE:FLR) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Fluor (NYSE:FLR) issued its quarterly earnings data on Friday. The construction company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.17, RTT News reports. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Fluor updated its FY24 guidance to $2.50-3.00 EPS and its FY 2024 guidance to 2.500-3.000 EPS.

Fluor Stock Performance

NYSE FLR opened at $47.50 on Monday. The stock has a market capitalization of $8.13 billion, a PE ratio of 27.62, a P/E/G ratio of 2.55 and a beta of 1.99. Fluor has a 1-year low of $30.73 and a 1-year high of $51.64. The business has a 50 day simple moving average of $45.31 and a two-hundred day simple moving average of $41.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.67.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Citigroup lifted their price objective on Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Wednesday, July 17th. Robert W. Baird increased their price objective on shares of Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Truist Financial upped their target price on shares of Fluor from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.43.

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.