Johnson Rice lowered shares of Fluor Corporation (NYSE:FLR) from a buy rating to an accumulate rating in a research note published on Monday, August 7th, MarketBeat Ratings reports. They currently have $48.00 price target on the construction company’s stock, down from their prior price target of $62.00.
FLR has been the topic of a number of other reports. Deutsche Bank AG lowered shares of Fluor Corporation from a buy rating to a hold rating and reduced their price objective for the company from $55.00 to $40.00 in a report on Friday, August 4th. Credit Suisse Group reduced their price objective on shares of Fluor Corporation from $69.00 to $52.00 and set a neutral rating on the stock in a report on Monday, May 15th. Canaccord Genuity upgraded shares of Fluor Corporation from a hold rating to a buy rating and cut their price target for the stock from $57.00 to $55.00 in a research note on Monday, May 15th. Zacks Investment Research lowered shares of Fluor Corporation from a buy rating to a hold rating in a research note on Monday, May 8th. Finally, BidaskClub upgraded shares of Fluor Corporation from a strong sell rating to a sell rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $50.10.
Fluor Corporation (NYSE FLR) traded down 0.26% during trading on Monday, hitting $37.67. The stock had a trading volume of 1,722,442 shares. Fluor Corporation has a 52-week low of $37.40 and a 52-week high of $58.37. The company has a 50-day moving average of $43.13 and a 200 day moving average of $48.82. The firm has a market cap of $5.27 billion, a P/E ratio of 47.03 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period last year, the business earned $0.72 EPS. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts predict that Fluor Corporation will post $1.50 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s payout ratio is 106.33%.
Several hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in shares of Fluor Corporation by 3.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,810 shares of the construction company’s stock valued at $253,000 after buying an additional 165 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Fluor Corporation by 6.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 699,541 shares of the construction company’s stock valued at $36,741,000 after buying an additional 41,883 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Fluor Corporation during the fourth quarter valued at $531,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Fluor Corporation during the fourth quarter worth approximately $237,000. Finally, Macquarie Group Ltd. increased its stake in Fluor Corporation by 235.2% in the fourth quarter. Macquarie Group Ltd. now owns 104,253 shares of the construction company’s stock worth $5,475,000 after buying an additional 73,153 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Fluor Corporation Company Profile
Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.
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