Wall Street brokerages predict that Fluor Co. (NYSE:FLR) will announce $4.75 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Fluor’s earnings. The highest sales estimate is $4.93 billion and the lowest is $4.61 billion. Fluor reported sales of $4.84 billion during the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The company is expected to issue its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Fluor will report full-year sales of $4.75 billion for the current financial year, with estimates ranging from $18.17 billion to $19.25 billion. For the next financial year, analysts expect that the business will report sales of $19.54 billion per share, with estimates ranging from $18.48 billion to $20.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Fluor.
Fluor (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Fluor had a return on equity of 10.95% and a net margin of 0.98%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.91 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. Fluor’s revenue was up .8% compared to the same quarter last year.
A number of brokerages have recently weighed in on FLR. TheStreet upgraded Fluor from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Alembic Global Advisors restated a “hold” rating on shares of Fluor in a research report on Wednesday, February 21st. Canaccord Genuity restated a “buy” rating and issued a $64.00 price target on shares of Fluor in a research report on Wednesday, February 21st. MKM Partners set a $56.00 price target on Fluor and gave the company a “hold” rating in a research report on Wednesday, January 17th. Finally, ValuEngine upgraded Fluor from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Fluor presently has a consensus rating of “Hold” and a consensus target price of $58.00.
In related news, insider Robin K. Chopra sold 3,889 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $57.69, for a total transaction of $224,356.41. Following the sale, the insider now owns 14,743 shares of the company’s stock, valued at $850,523.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David Thomas Seaton sold 50,000 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $56.72, for a total value of $2,836,000.00. Following the sale, the chairman now directly owns 302,312 shares in the company, valued at approximately $17,147,136.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,218 shares of company stock worth $6,953,603. Corporate insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. American Beacon Advisors Inc. acquired a new stake in shares of Fluor during the fourth quarter valued at $120,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Fluor during the fourth quarter valued at $135,000. Balentine LLC boosted its stake in shares of Fluor by 99.1% during the third quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,393 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Fluor in the 4th quarter worth about $145,000. Finally, Mission Wealth Management LP acquired a new stake in Fluor in the 4th quarter worth about $201,000. 87.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of FLR stock traded up $0.34 during mid-day trading on Thursday, hitting $57.18. The stock had a trading volume of 613,463 shares, compared to its average volume of 1,466,394. Fluor has a twelve month low of $37.03 and a twelve month high of $62.09. The stock has a market capitalization of $8,064.26, a PE ratio of 42.04, a P/E/G ratio of 1.06 and a beta of 1.52. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.46.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, February 28th. Fluor’s payout ratio is currently 61.76%.
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Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. It operates through four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Diversified Services; and Government.
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