Fluor Corporation (NYSE:FLR) Given Average Recommendation of “Hold” by Brokerages

Shares of Fluor Corporation (NYSE:FLR) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $57.20.

A number of brokerages recently issued reports on FLR. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial boosted their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup dropped their target price 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, Robert W. Baird lifted their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th.

Fluor Stock Up 7.1%

Shares of NYSE FLR opened at $50.16 on Friday. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50-day moving average of $50.15 and a two-hundred day moving average of $48.22. Fluor has a 1 year low of $37.62 and a 1 year high of $57.00.

Fluor (NYSE:FLR) last released 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). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. On average, analysts forecast that Fluor will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Starboard Value LP acquired a new stake in shares of Fluor in the fourth quarter valued at approximately $205,732,000. Rubric Capital Management LP acquired a new position in shares of Fluor in the 2nd quarter valued at $205,080,000. AQR Capital Management LLC raised its position in Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after purchasing an additional 3,203,712 shares during the last quarter. Sourcerock Group LLC purchased a new stake in Fluor in the 2nd quarter valued at $85,327,000. Finally, Maverick Capital Ltd. acquired a new stake in Fluor during the 1st quarter worth $66,036,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Fluor

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.