Zacks: Analysts Expect Fluor Co. (FLR) Will Announce Quarterly Sales of $4.75 Billion

Wall Street brokerages expect Fluor Co. (NYSE:FLR) to announce $4.75 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Fluor’s earnings, with the highest sales estimate coming in at $4.93 billion and the lowest estimate coming in at $4.61 billion. Fluor posted sales of $4.84 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.9%. The firm is expected to report its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that Fluor will report full year sales of $4.75 billion for the current financial year, with estimates ranging from $18.17 billion to $19.25 billion. For the next financial year, analysts expect that the business will report sales of $19.54 billion per share, with estimates ranging from $18.48 billion to $20.35 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Fluor.

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Fluor (NYSE:FLR) last issued its earnings results on Tuesday, February 20th. The construction company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.91 billion. Fluor had a return on equity of 10.95% and a net margin of 0.98%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS.

FLR has been the subject of a number of analyst reports. Barclays initiated coverage on Fluor in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $54.00 price objective for the company. TheStreet upgraded Fluor from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Zacks Investment Research lowered Fluor from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. ValuEngine lowered Fluor from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Robert W. Baird upgraded Fluor from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $61.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.00.

In other Fluor news, insider Robin K. Chopra sold 5,553 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.49, for a total transaction of $319,241.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin K. Chopra sold 3,889 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $57.69, for a total value of $224,356.41. Following the transaction, the insider now owns 14,743 shares of the company’s stock, valued at approximately $850,523.67. The disclosure for this sale can be found here. Insiders have sold a total of 121,218 shares of company stock valued at $6,953,603 in the last quarter. 1.40% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado raised its stake in shares of Fluor by 3.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 26,216 shares of the construction company’s stock worth $1,354,000 after buying an additional 891 shares in the last quarter. Bank of Hawaii raised its stake in shares of Fluor by 12.1% in the 4th quarter. Bank of Hawaii now owns 9,071 shares of the construction company’s stock worth $469,000 after buying an additional 981 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Fluor by 3.4% in the 4th quarter. Scotia Capital Inc. now owns 34,207 shares of the construction company’s stock worth $1,767,000 after buying an additional 1,115 shares in the last quarter. Aperio Group LLC raised its stake in shares of Fluor by 2.7% in the 4th quarter. Aperio Group LLC now owns 45,358 shares of the construction company’s stock worth $2,343,000 after buying an additional 1,186 shares in the last quarter. Finally, 440 Investment Group LLC raised its stake in shares of Fluor by 24.5% in the 4th quarter. 440 Investment Group LLC now owns 6,226 shares of the construction company’s stock worth $322,000 after buying an additional 1,226 shares in the last quarter. Institutional investors own 87.05% of the company’s stock.

NYSE:FLR opened at $57.22 on Friday. Fluor has a 12-month low of $37.03 and a 12-month high of $62.09. The company has a market cap of $8,005.48, a P/E ratio of 21.51, a P/E/G ratio of 1.05 and a beta of 1.52. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.46.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.47%. Fluor’s dividend payout ratio (DPR) is presently 51.53%.

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About Fluor

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. It operates through four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Diversified Services; and Government.

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Earnings History and Estimates for Fluor (NYSE:FLR)

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