DA Davidson Weighs in on Fluor's FY2024 Earnings (NYSE:FLR)

Fluor Co. (NYSE:FLR - Free Report) - Equities researchers at DA Davidson decreased their FY2024 earnings estimates for Fluor in a report released on Tuesday, November 12th. DA Davidson analyst B. Thielman now expects that the construction company will earn $2.64 per share for the year, down from their prior forecast of $2.90. DA Davidson currently has a "Buy" rating and a $65.00 target price on the stock. The consensus estimate for Fluor's current full-year earnings is $2.61 per share.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.74 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the company. Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Barclays boosted their price target on shares of Fluor from $39.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 18th. UBS Group upped their price target on Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Citigroup upgraded Fluor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, KeyCorp raised their target price on Fluor from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.29.

Fluor Stock Performance

Fluor stock remained flat at $50.33 during mid-day trading on Thursday. The company had a trading volume of 1,590,165 shares, compared to its average volume of 1,675,527. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.32 and a beta of 1.90. The business has a 50-day moving average price of $49.89 and a two-hundred day moving average price of $46.63.

Insider Buying and Selling at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the firm's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company's stock, valued at approximately $2,107,972.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares of the company's stock, valued at approximately $2,676,885.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,261 shares of company stock valued at $1,528,574. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Fluor

Several institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new stake in Fluor during the second quarter worth about $34,000. GAMMA Investing LLC raised its stake in shares of Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company's stock worth $39,000 after buying an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company's stock valued at $41,000 after acquiring an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Fluor during the second quarter worth about $51,000. Finally, Quest Partners LLC acquired a new stake in shares of Fluor in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 88.07% of the company's stock.

About Fluor

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.