Robert W. Baird Reaffirms “Hold” Rating for Fluor Corporation (FLR)
Robert W. Baird reiterated their hold rating on shares of Fluor Corporation (NYSE:FLR) in a report released on Tuesday. Robert W. Baird currently has a $40.00 target price on the construction company’s stock.
A number of other equities analysts have also commented on the company. Johnson Rice lowered Fluor Corporation from a buy rating to an accumulate rating and dropped their price objective for the stock from $62.00 to $48.00 in a research note on Monday, August 7th. Canaccord Genuity set a $48.00 price objective on Fluor Corporation and gave the stock a buy rating in a research note on Sunday, August 6th. DA Davidson lowered Fluor Corporation from a buy rating to a neutral rating and dropped their price objective for the stock from $55.00 to $48.00 in a research note on Friday, August 4th. Deutsche Bank AG lowered Fluor Corporation from a buy rating to a hold rating and dropped their price objective for the stock from $55.00 to $40.00 in a research note on Friday, August 4th. Finally, BidaskClub lowered Fluor Corporation from a sell rating to a strong sell rating in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $49.18.
Shares of Fluor Corporation (FLR) opened at 38.96 on Tuesday. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 48.64 and a beta of 1.41. The firm’s 50-day moving average price is $40.39 and its 200-day moving average price is $47.09. Fluor Corporation has a 52 week low of $37.04 and a 52 week high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Equities research analysts expect that Fluor Corporation will post $1.50 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/08/robert-w-baird-reaffirms-hold-rating-for-fluor-corporation-flr.html.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s payout ratio is 106.33%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. State of Alaska Department of Revenue acquired a new stake in Fluor Corporation during the first quarter valued at approximately $194,000. Strs Ohio boosted its holdings in Fluor Corporation by 1.5% during the first quarter. Strs Ohio now owns 11,100 shares of the construction company’s stock valued at $584,000 after purchasing an additional 166 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Fluor Corporation by 268.8% during the first quarter. Russell Investments Group Ltd. now owns 228,013 shares of the construction company’s stock valued at $11,999,000 after purchasing an additional 166,189 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Fluor Corporation by 2.5% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,307 shares of the construction company’s stock valued at $594,000 after purchasing an additional 280 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Fluor Corporation by 0.5% during the first quarter. Wells Fargo & Company MN now owns 1,076,756 shares of the construction company’s stock valued at $56,658,000 after purchasing an additional 5,141 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.
About Fluor Corporation
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.
Receive News & Stock Ratings for Fluor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluor Corporation and related stocks with our FREE daily email newsletter.