Seaport Global Securities lowered shares of Fluor Corp. (NYSE:FLR) from an accumulate rating to a neutral rating in a research report released on Friday. They currently have $50.00 price target on the stock, down from their previous price target of $53.00.
Several other research firms have also recently weighed in on FLR. MKM Partners set a $52.00 price objective on shares of Fluor Corp. and gave the stock a hold rating in a research report on Friday, August 5th. DA Davidson restated a buy rating on shares of Fluor Corp. in a research report on Tuesday, August 16th. Janney Montgomery Scott restated a buy rating on shares of Fluor Corp. in a research report on Tuesday, August 16th. Bank of America Corp. restated a sell rating and issued a $50.00 price objective on shares of Fluor Corp. in a research report on Friday, August 5th. Finally, Credit Suisse Group AG set a $59.00 price target on shares of Fluor Corp. and gave the company a buy rating in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $52.80.
Shares of Fluor Corp. (NYSE:FLR) opened at 50.53 on Friday. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 22.10 and a beta of 1.74. The stock has a 50 day moving average of $50.34 and a 200 day moving average of $51.68. Fluor Corp. has a 1-year low of $39.48 and a 1-year high of $55.69.
Fluor Corp. (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by $0.16. The company earned $4.86 billion during the quarter, compared to the consensus estimate of $4.73 billion. Fluor Corp. had a return on equity of 15.45% and a net margin of 1.81%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. Analysts predict that Fluor Corp. will post $3.25 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Friday, September 2nd were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. Fluor Corp.’s dividend payout ratio (DPR) is presently 37.00%.
Institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI increased its position in Fluor Corp. by 11.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,006 shares of the company’s stock valued at $108,000 after buying an additional 200 shares during the period. BlueMountain Capital Management LLC increased its position in shares of Fluor Corp. by 107.3% in the first quarter. BlueMountain Capital Management LLC now owns 2,303 shares of the company’s stock worth $124,000 after buying an additional 1,192 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of Fluor Corp. during the second quarter worth approximately $128,000. Investment Counselors of Maryland LLC increased its position in shares of Fluor Corp. by 3.4% in the second quarter. Investment Counselors of Maryland LLC now owns 3,022 shares of the company’s stock worth $149,000 after buying an additional 100 shares during the last quarter. Finally, Assetmark Inc. bought a new position in shares of Fluor Corp. during the second quarter worth approximately $179,000. Institutional investors and hedge funds own 84.33% of the company’s stock.
About Fluor Corp.
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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