Fluor (NYSE:FLR) Cut to Hold at Zacks Investment Research

Fluor (NYSE:FLRGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports. They currently have a $26.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.91% from the stock’s previous close.

According to Zacks, “Fluor’s shares have broadly outperformed the industry over the past year. The trend is likely to continue on the back of its "Building a Better Future" initiative, which focuses on enhancing the markets outside the traditional oil and gas sector, fair and balanced commercial deals, financial discipline, and the high-performing business culture. Although 2021 revenues fell year over year due to lower contribution from the Energy & Chemicals and Urban Solutions segments, adjusted earnings came in at 94 cents per share. Consolidated segment profit rose 12% year over year. New awards were $8.8 billion compared with $7.5 billion a year ago. Fluor's upbeat view for 2022 is also encouraging. Yet, supply chain disruptions, labor availability and inflation are risks.”

Several other research firms also recently issued reports on FLR. Robert W. Baird raised Fluor from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $30.00 to $29.00 in a research note on Wednesday, February 23rd. StockNews.com started coverage on Fluor in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.00.

Shares of Fluor stock traded down $0.43 on Monday, hitting $24.32. The stock had a trading volume of 17,851 shares, compared to its average volume of 1,757,662. The stock has a 50 day moving average of $27.29 and a 200 day moving average of $23.98. Fluor has a twelve month low of $14.41 and a twelve month high of $31.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $3.43 billion, a P/E ratio of -16.21, a PEG ratio of 0.55 and a beta of 2.86.

Fluor (NYSE:FLRGet Rating) last released its quarterly earnings data on Tuesday, February 22nd. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Fluor had a positive return on equity of 10.32% and a negative net margin of 1.51%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The firm’s revenue was down 3.4% compared to the same quarter last year. Equities analysts expect that Fluor will post 1.34 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of FLR. Rubric Capital Management LP bought a new position in shares of Fluor during the 4th quarter worth approximately $72,517,000. Allianz Asset Management GmbH bought a new position in shares of Fluor during the 3rd quarter worth approximately $31,961,000. Granite Investment Partners LLC boosted its holdings in shares of Fluor by 4,466.3% during the 4th quarter. Granite Investment Partners LLC now owns 1,257,288 shares of the construction company’s stock worth $31,143,000 after buying an additional 1,229,754 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Fluor by 951.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 638,128 shares of the construction company’s stock worth $15,807,000 after buying an additional 577,428 shares in the last quarter. Finally, Impala Asset Management LLC bought a new position in shares of Fluor during the 4th quarter worth approximately $11,952,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Fluor Company Profile (Get Rating)

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. The Energy Solutions 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.

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