Fluor Co. Forecasted to Earn Q2 2024 Earnings of $0.67 Per Share (NYSE:FLR)

Fluor Co. (NYSE:FLR) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for Fluor in a note issued to investors on Tuesday, May 7th. DA Davidson analyst B. Thielman forecasts that the construction company will earn $0.67 per share for the quarter. The consensus estimate for Fluor’s current full-year earnings is $2.84 per share. DA Davidson also issued estimates for Fluor’s FY2024 earnings at $2.75 EPS.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The company 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 company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share.

Other equities analysts have also recently issued reports about the company. Citigroup upped their price objective on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Robert W. Baird lifted their price objective on Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday. KeyCorp began coverage on shares of Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Finally, Truist Financial reiterated a “buy” rating and set a $47.00 target price (up from $46.00) on shares of Fluor in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.

Fluor Stock Down 1.3 %

Shares of Fluor stock opened at $38.51 on Wednesday. The company has a 50-day simple moving average of $39.85 and a two-hundred day simple moving average of $38.47. Fluor has a 52-week low of $25.69 and a 52-week high of $43.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.67. The stock has a market capitalization of $6.55 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 3.08 and a beta of 2.11.

Institutional Investors Weigh In On Fluor

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in Fluor in the fourth quarter worth about $27,000. Rise Advisors LLC bought a new stake in Fluor during the 1st quarter worth approximately $28,000. BKM Wealth Management LLC purchased a new position in Fluor during the fourth quarter valued at approximately $34,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Fluor in the fourth quarter worth $34,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Fluor during the 4th quarter valued at $36,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

About Fluor

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.