Fluor (NYSE:FLR) Rating Lowered to Strong Sell at Zacks Research

Fluor (NYSE:FLR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

FLR has been the subject of several other research reports. Robert W. Baird upped their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup lowered their price objective on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Truist Financial lifted their price objective on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.50.

Fluor Price Performance

Fluor stock opened at $49.56 on Tuesday. The firm has a 50 day moving average price of $49.12 and a 200 day moving average price of $47.25. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.54 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. Fluor has a 1 year low of $37.62 and a 1 year high of $57.50.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. Sell-side analysts predict that Fluor will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock worth $361,000 after buying an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Fluor by 337.7% in the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after buying an additional 12,645 shares during the period. Caxton Associates LLP bought a new position in shares of Fluor in the 1st quarter worth about $266,000. Acadian Asset Management LLC bought a new stake in Fluor in the first quarter worth approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Fluor by 7.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.