Fluor (NYSE:FLR – Get Rating) issued an update on its FY23 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.50-$1.90 for the period, compared to the consensus earnings per share estimate of $1.65.
Fluor Stock Performance
Fluor stock opened at $27.21 on Monday. The firm’s fifty day moving average price is $30.98 and its 200-day moving average price is $33.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $3.84 billion, a P/E ratio of -73.54, a price-to-earnings-growth ratio of 0.64 and a beta of 2.27. Fluor has a fifty-two week low of $21.67 and a fifty-two week high of $38.20.
Fluor (NYSE:FLR – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The construction company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Fluor had a net margin of 1.06% and a return on equity of 8.49%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. On average, equities research analysts expect that Fluor will post 1.69 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
FLR has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Fluor from $43.00 to $40.00 in a research report on Monday. StockNews.com initiated coverage on shares of Fluor in a research report on Thursday, March 16th. They issued a hold rating on the stock. Finally, Credit Suisse Group lifted their target price on shares of Fluor from $31.00 to $33.00 and gave the stock a neutral rating in a research report on Wednesday, February 22nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $34.86.
Insider Buying and Selling
In other Fluor news, insider James R. Breuer sold 4,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $37.81, for a total value of $151,240.00. Following the transaction, the insider now owns 41,742 shares in the company, valued at $1,578,265.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Fluor
A number of hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Fluor by 76.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,225,956 shares of the construction company’s stock valued at $111,812,000 after acquiring an additional 1,392,572 shares during the period. State of Wyoming bought a new stake in shares of Fluor during the 4th quarter valued at about $113,000. CI Private Wealth LLC bought a new stake in shares of Fluor during the 4th quarter valued at about $514,000. Metropolitan Life Insurance Co NY boosted its stake in shares of Fluor by 3.5% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 8,740 shares of the construction company’s stock valued at $303,000 after purchasing an additional 292 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Fluor by 12.4% during the 4th quarter. Cerity Partners LLC now owns 17,936 shares of the construction company’s stock valued at $622,000 after purchasing an additional 1,983 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.
About Fluor
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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