Fluor Corporation (NYSE:FLR) Receives $57.20 Average Target Price from Brokerages

Shares of Fluor Corporation (NYSE:FLR) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.20.

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Truist Financial increased their price objective on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Zacks Research lowered Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup decreased their price target on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th.

Institutional Investors Weigh In On Fluor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Fluor during the 4th quarter valued at $1,350,000. Pacific Heights Asset Management LLC boosted its stake in Fluor by 23.1% in the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock valued at $15,852,000 after acquiring an additional 75,000 shares during the last quarter. Mutual Advisors LLC bought a new stake in shares of Fluor in the 4th quarter worth approximately $863,000. CWM LLC lifted its stake in Fluor by 68.1% in the fourth quarter. CWM LLC now owns 91,639 shares of the construction company’s stock valued at $3,632,000 after purchasing an additional 37,112 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Fluor by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 172,427 shares of the construction company’s stock valued at $6,833,000 after purchasing an additional 23,892 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

Shares of FLR opened at $52.16 on Friday. The business’s fifty day moving average is $49.69 and its 200 day moving average is $48.08. Fluor has a 12-month low of $37.62 and a 12-month high of $57.50. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.28 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.65 and a beta of 1.23.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Fluor will post 2.63 earnings per share for the current fiscal year.

Fluor Company Profile

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.