Fluor (NYSE:FLR) Updates FY24 Earnings Guidance

Fluor (NYSE:FLR) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.50-3.00 for the period, compared to the consensus earnings per share estimate of $2.80. Fluor also updated its FY 2024 guidance to 2.500-3.000 EPS.

Fluor Stock Performance

NYSE FLR traded down $2.34 during midday trading on Friday, hitting $38.90. The company had a trading volume of 4,832,077 shares, compared to its average volume of 1,575,250. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.56. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 69.09, a P/E/G ratio of 3.20 and a beta of 2.11. The firm has a fifty day simple moving average of $39.70 and a two-hundred day simple moving average of $38.38. Fluor has a fifty-two week low of $25.69 and a fifty-two week high of $43.24.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. Fluor had a net margin of 0.90% and a return on equity of 24.25%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that Fluor will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. KeyCorp assumed coverage on shares of Fluor in a report on Wednesday, January 10th. They set a sector weight rating for the company. Truist Financial restated a buy rating and set a $46.00 price objective on shares of Fluor in a report on Monday, March 25th. TheStreet lowered shares of Fluor from a b- rating to a c rating in a research note on Wednesday, February 21st. Finally, Citigroup lifted their price target on shares of Fluor from $45.00 to $47.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Fluor currently has a consensus rating of Hold and a consensus price target of $43.17.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.