Fluor Corp. (FLR) Rating Lowered to Neutral at Seaport Global Securities
Fluor Corp. (NYSE:FLR) was downgraded by research analysts at Seaport Global Securities from an “accumulate” rating to a “neutral” rating in a research note issued on Friday. They currently have a $50.00 target price on the stock, down from their previous target price of $53.00. Seaport Global Securities’ price target suggests a potential upside of 0.48% from the company’s current price.
A number of other equities analysts have also recently issued reports on FLR. MKM Partners started coverage on shares of Fluor Corp. in a report on Wednesday, June 29th. They issued a “neutral” rating and a $52.00 target price on the stock. Credit Suisse Group AG reissued an “outperform” rating and issued a $62.00 target price on shares of Fluor Corp. in a report on Wednesday, July 6th. Bank of America Corp. reissued a “sell” rating and issued a $50.00 target price on shares of Fluor Corp. in a report on Friday, August 5th. DA Davidson reissued a “buy” rating on shares of Fluor Corp. in a report on Friday, August 5th. Finally, Zacks Investment Research raised shares of Fluor Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.80.
Shares of Fluor Corp. (NYSE:FLR) opened at 49.76 on Friday. Fluor Corp. has a 12-month low of $39.48 and a 12-month high of $55.69. The company has a 50 day moving average price of $50.41 and a 200-day moving average price of $51.70. The firm has a market cap of $6.93 billion, a PE ratio of 21.77 and a beta of 1.74.
Fluor Corp. (NYSE:FLR) last issued its earnings results on Thursday, August 4th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.16. Fluor Corp. had a return on equity of 15.45% and a net margin of 1.81%. The business earned $4.86 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the prior year, the business earned $1.00 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Analysts expect that Fluor Corp. will post $3.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 2nd were given a $0.21 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.84 annualized dividend and a yield of 1.69%. Fluor Corp.’s dividend payout ratio (DPR) is 37.00%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Citizens Financial Group Inc RI raised its position in Fluor Corp. by 11.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,006 shares of the company’s stock valued at $108,000 after buying an additional 200 shares during the period. BlueMountain Capital Management LLC raised its position in Fluor Corp. by 107.3% in the first quarter. BlueMountain Capital Management LLC now owns 2,303 shares of the company’s stock valued at $124,000 after buying an additional 1,192 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in Fluor Corp. during the second quarter valued at about $128,000. Investment Counselors of Maryland LLC raised its position in Fluor Corp. by 3.4% in the second quarter. Investment Counselors of Maryland LLC now owns 3,022 shares of the company’s stock valued at $149,000 after buying an additional 100 shares during the period. Finally, Assetmark Inc. acquired a new position in Fluor Corp. during the second quarter valued at about $179,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.
Fluor Corp. Company Profile
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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