Fluor (NYSE:FLR) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Posted by Donald Scott on Aug 6th, 2022

Fluor logo Fluor (NYSE:FLR – Get Rating) issued its quarterly earnings data on Friday. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18), RTT News reports. Fluor had a negative net margin of 0.63% and a positive return on equity of 10.59%. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the firm posted $0.32 EPS. Fluor’s revenue was down 10.5% on a year-over-year basis. Fluor updated its FY22 guidance to $1.15-1.35 EPS and its FY 2022 guidance to $1.15-$1.35 EPS.

Fluor Trading Down 9.1 %

NYSE:FLR traded down $2.32 during midday trading on Friday, reaching $23.08. 4,103,302 shares of the stock traded hands, compared to its average volume of 1,293,731. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.43 and a current ratio of 1.43. The company has a fifty day moving average of $25.23 and a 200 day moving average of $25.43. The stock has a market capitalization of $3.28 billion, a P/E ratio of -29.21, a PEG ratio of 0.53 and a beta of 2.58. Fluor has a 12 month low of $14.41 and a 12 month high of $31.32.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Fluor from $31.00 to $27.00 in a report on Friday, July 22nd. Credit Suisse Group set a $26.00 price objective on shares of Fluor in a report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.60.

Insider Buying and Selling at Fluor

In related news, Director Matthew K. Rose acquired 40,000 shares of Fluor stock in a transaction on Thursday, May 12th. The shares were acquired at an average cost of $25.63 per share, with a total value of $1,025,200.00. Following the transaction, the director now owns 80,764 shares in the company, valued at $2,069,981.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Matthew K. Rose acquired 40,000 shares of Fluor stock in a transaction on Thursday, May 12th. The shares were acquired at an average cost of $25.63 per share, with a total value of $1,025,200.00. Following the transaction, the director now owns 80,764 shares in the company, valued at $2,069,981.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James T. Hackett bought 30,000 shares of Fluor stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average cost of $25.46 per share, for a total transaction of $763,800.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $254,600. The disclosure for this purchase can be found here. Insiders own 1.01% of the company’s stock.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Fluor by 3.5% during the 1st quarter. BlackRock Inc. now owns 16,937,750 shares of the construction company’s stock valued at $485,943,000 after purchasing an additional 571,316 shares during the last quarter. Vanguard Group Inc. grew its position in Fluor by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,274,601 shares of the construction company’s stock valued at $380,847,000 after purchasing an additional 81,634 shares during the last quarter. State Street Corp grew its position in Fluor by 4.3% during the 1st quarter. State Street Corp now owns 4,756,643 shares of the construction company’s stock valued at $136,468,000 after purchasing an additional 195,913 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Fluor by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,627,022 shares of the construction company’s stock valued at $46,684,000 after purchasing an additional 72,442 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Fluor by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,225 shares of the construction company’s stock valued at $40,316,000 after purchasing an additional 30,628 shares during the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

Fluor Company Profile

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Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. The Energy Solutions 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.