Fluor Corporation (NYSE:FLR) Stock Has Average Target Price of $63.33

Shares of Fluor Corporation (NYSE:FLR) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $63.33.

A number of brokerages have issued reports on FLR. Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. UBS Group raised their price target on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Barclays lifted their price target on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Citigroup reiterated a “buy” rating on shares of Fluor in a research note on Friday, October 23rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $71.00 target price (up from $64.00) on shares of Fluor in a report on Monday, August 10th.

Fluor Trading Down 5.0%

Shares of FLR opened at $45.24 on Friday. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $58.35. The business has a 50-day moving average of $50.59 and a 200 day moving average of $49.32. The firm has a market cap of $6.05 billion, a P/E ratio of -3.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, research analysts forecast that Fluor will post 2.69 EPS for the current year.

Trending Headlines about Fluor

Here are the key news stories impacting Fluor this week:

• Positive Sentiment: Fluor received full notice to proceed on the fourth grinding-line expansion at Chile’s Sierra Gorda mine, moving the project into active execution and strengthening its backlog of mining work. Article: Fluor Granted Full Notice to Proceed on Sierra Gorda’s Fourth Grinding Line Expansion Project in Chile
• Positive Sentiment: Fluor signed an EPC contract with TeraWulf for a large data-center campus in Kentucky. TeraWulf also announced Google credit support for project financing tied to its long-term Anthropic lease, which may improve the project’s financing prospects; Fluor’s benefit depends on successful construction and delivery. Article: Fluor Signs EPC Contract with TeraWulf for Large-Scale Data Center Campus in Kentucky
• Positive Sentiment: Fluor was selected for X-Energy’s Cascade advanced small modular reactor project in Washington state, adding to its potential nuclear-energy work. The reports do not specify the value or timing of Fluor’s work. Article: Fluor selected for X-Energy’s Cascade advanced small modular reactor project
• Neutral Sentiment: Fluor signed an agreement with Inelectra related to energy projects in Venezuela. This could create future opportunities, but the announcement provides limited detail on specific work, revenue or timing. Article: Fluor Signs Agreement with Inelectra for Venezuela Energy Projects

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its position in Fluor by 45.2% in the 1st quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock worth $6,454,000 after purchasing an additional 43,078 shares during the period. State of Wyoming bought a new stake in Fluor in the second quarter worth $1,358,000. Energy Income Partners LLC purchased a new stake in Fluor during the second quarter valued at about $5,826,000. Old West Investment Management LLC purchased a new stake in Fluor during the second quarter valued at about $13,348,000. Finally, First National Bank of Omaha bought a new position in shares of Fluor during the second quarter valued at about $8,804,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

About Fluor

Fluor Corporation is a global engineering, procurement, construction and project-management company serving government and commercial clients. The company provides design and construction services, project development, procurement, maintenance, operations support and consulting for complex infrastructure and industrial projects.

Fluor’s activities span energy, chemicals and advanced technologies, infrastructure, mining and metals, life sciences, and government and national-security programs.