Zacks: Brokerages Expect Fluor Co. (NYSE:FLR) to Announce $0.12 Earnings Per Share

Wall Street brokerages expect Fluor Co. (NYSE:FLR) to post $0.12 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Fluor’s earnings. Fluor posted earnings per share of $0.14 in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.3%. The company is scheduled to announce its next earnings results on Thursday, December 9th.

On average, analysts expect that Fluor will report full-year earnings of $0.61 per share for the current financial year, with EPS estimates ranging from $0.60 to $0.62. For the next fiscal year, analysts anticipate that the company will post earnings of $1.11 per share, with EPS estimates ranging from $0.90 to $1.31. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Fluor.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Thursday, August 5th. The construction company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.08 by $0.24. Fluor had a negative net margin of 1.55% and a negative return on equity of 2.48%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. The firm’s revenue was down 13.3% on a year-over-year basis.

A number of equities analysts have recently issued reports on the stock. Barclays cut their price target on shares of Fluor from $27.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, August 9th. Citigroup decreased their price target on shares of Fluor from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, July 22nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fluor presently has a consensus rating of “Hold” and a consensus price target of $18.33.

FLR stock traded up $0.29 on Friday, hitting $16.24. The company’s stock had a trading volume of 2,699 shares, compared to its average volume of 2,489,765. The firm has a 50 day moving average of $16.51 and a two-hundred day moving average of $19.08. Fluor has a 1 year low of $8.25 and a 1 year high of $25.08. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -10.42 and a beta of 2.91. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.95.

A number of institutional investors and hedge funds have recently modified their holdings of FLR. Marshall Wace LLP purchased a new position in Fluor during the 2nd quarter valued at about $1,861,000. Marshall Wace North America L.P. purchased a new position in Fluor during the 2nd quarter valued at about $630,000. Morgan Stanley grew its stake in Fluor by 18.8% during the 2nd quarter. Morgan Stanley now owns 1,701,145 shares of the construction company’s stock valued at $30,110,000 after acquiring an additional 269,355 shares in the last quarter. Wells Fargo & Company MN grew its stake in Fluor by 3.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,104,988 shares of the construction company’s stock valued at $19,557,000 after acquiring an additional 41,370 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Fluor by 15.7% in the 2nd quarter. Kingsview Wealth Management LLC now owns 40,296 shares of the construction company’s stock valued at $710,000 after buying an additional 5,477 shares in the last quarter. 81.93% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Company Profile

Fluor Corp. operates as a holding company. The firm engages in the provision of engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. It operates through the following segments: Energy & Chemicals, Mining & Industrial, Infrastructure & Power, Diversified Services and Government.

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