Analysts Anticipate Fluor Co. (NEW) (FLR) Will Announce Earnings of $0.59 Per Share

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Brokerages forecast that Fluor Co. (NEW) (NYSE:FLR) will report earnings per share of $0.59 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Fluor Co. (NEW)’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.65. Fluor Co. (NEW) reported earnings of $0.67 per share during the same quarter last year, which would suggest a negative year over year growth rate of 11.9%. The business is scheduled to report its next earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Fluor Co. (NEW) will report full year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.90 to $2.06. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.29 per share, with EPS estimates ranging from $3.20 to $3.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last issued its earnings results on Thursday, August 2nd. The construction company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.11. Fluor Co. (NEW) had a net margin of 1.28% and a return on equity of 11.63%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis.

Several equities research analysts have recently issued reports on FLR shares. ValuEngine raised shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, July 4th. TheStreet raised shares of Fluor Co. (NEW) from a “c” rating to a “b-” rating in a research report on Thursday, August 2nd. Goldman Sachs Group raised shares of Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Thursday. Finally, Citigroup set a $66.00 price objective on shares of Fluor Co. (NEW) and gave the stock a “buy” rating in a research report on Thursday, October 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.00.

Shares of FLR stock traded down $0.44 during trading hours on Monday, hitting $46.22. 1,294,345 shares of the company were exchanged, compared to its average volume of 1,938,097. The company has a quick ratio of 1.03, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Fluor Co. has a 52 week low of $42.44 and a 52 week high of $62.09. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 0.62 and a beta of 1.46.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, August 31st. Fluor Co. (NEW)’s dividend payout ratio (DPR) is currently 51.53%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC grew its position in Fluor Co. (NEW) by 9.4% in the second quarter. Meadow Creek Investment Management LLC now owns 12,606 shares of the construction company’s stock valued at $615,000 after purchasing an additional 1,078 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Fluor Co. (NEW) by 10.6% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 11,710 shares of the construction company’s stock valued at $571,000 after purchasing an additional 1,119 shares in the last quarter. Sentry Investment Management LLC grew its position in Fluor Co. (NEW) by 15.7% in the second quarter. Sentry Investment Management LLC now owns 8,420 shares of the construction company’s stock valued at $411,000 after purchasing an additional 1,145 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Fluor Co. (NEW) by 4.2% in the second quarter. Crossmark Global Holdings Inc. now owns 28,273 shares of the construction company’s stock valued at $1,379,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Mission Wealth Management LP lifted its stake in Fluor Co. (NEW) by 30.8% in the second quarter. Mission Wealth Management LP now owns 5,100 shares of the construction company’s stock valued at $249,000 after acquiring an additional 1,200 shares during the last quarter. 88.19% of the stock is owned by institutional investors and hedge funds.

About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

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