Fluor (NYSE:FLR) Issues Earnings Results

Fluor (NYSE:FLR – Get Rating) released its quarterly earnings results on Friday. The construction company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06), MarketWatch Earnings reports. Fluor had a negative net margin of 1.51% and a positive return on equity of 10.32%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the business earned $0.07 EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Fluor updated its FY22 guidance to $1.15-1.40 EPS.

NYSE FLR opened at $26.67 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $3.77 billion, a PE ratio of -17.78, a PEG ratio of 0.59 and a beta of 2.76. Fluor has a 1 year low of $14.41 and a 1 year high of $31.32. The business’s 50-day moving average is $27.75 and its 200 day moving average is $24.18.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its holdings in shares of Fluor by 18.8% during the 2nd quarter. Morgan Stanley now owns 1,701,145 shares of the construction company’s stock worth $30,110,000 after acquiring an additional 269,355 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Fluor during the 3rd quarter worth approximately $227,000. Bank of Montreal Can grew its holdings in shares of Fluor by 47.7% during the 4th quarter. Bank of Montreal Can now owns 25,600 shares of the construction company’s stock worth $630,000 after acquiring an additional 8,263 shares during the period. Guggenheim Capital LLC purchased a new position in shares of Fluor during the 4th quarter worth approximately $291,000. Finally, Cetera Investment Advisers grew its holdings in shares of Fluor by 26.0% during the 4th quarter. Cetera Investment Advisers now owns 23,022 shares of the construction company’s stock worth $570,000 after acquiring an additional 4,752 shares during the period. 90.35% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on FLR shares. Robert W. Baird upgraded Fluor from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $30.00 to $29.00 in a report 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. Finally, Zacks Investment Research downgraded Fluor from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a report on Monday, May 2nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.00.

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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