Fluor Co. Forecasted to Post FY2024 Earnings of $2.94 Per Share (NYSE:FLR)

Fluor Co. (NYSE:FLR) – Investment analysts at KeyCorp issued their FY2024 EPS estimates for shares of Fluor in a research report issued to clients and investors on Tuesday, July 16th. KeyCorp analyst S. Jain anticipates that the construction company will post earnings of $2.94 per share for the year. KeyCorp currently has a “Overweight” rating and a $57.00 target price on the stock. The consensus estimate for Fluor’s current full-year earnings is $2.90 per share.

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

Several other analysts have also recently commented on the stock. Truist Financial lifted their price objective on shares of Fluor from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Robert W. Baird boosted their target price on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Citigroup boosted their target price on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Barclays boosted their target price on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.71.

Fluor Stock Down 0.5 %

FLR stock opened at $47.78 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. Fluor has a 52 week low of $30.09 and a 52 week high of $51.64. The firm has a 50 day moving average of $43.65 and a 200 day moving average of $40.71. The stock has a market capitalization of $8.18 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.99.

Institutional Investors Weigh In On Fluor

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Fluor by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after purchasing an additional 2,670,473 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Fluor during the fourth quarter worth about $26,918,000. King Luther Capital Management Corp lifted its position in shares of Fluor by 84.2% during the fourth quarter. King Luther Capital Management Corp now owns 637,150 shares of the construction company’s stock worth $24,957,000 after purchasing an additional 291,210 shares in the last quarter. Westend Capital Management LLC purchased a new stake in shares of Fluor during the first quarter worth approximately $10,472,000. Finally, Energy Income Partners LLC increased its stake in shares of Fluor by 39.0% during the first quarter. Energy Income Partners LLC now owns 761,757 shares of the construction company’s stock worth $32,207,000 after buying an additional 213,758 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.