Fluor Co. Expected to Post Q1 2023 Earnings of $0.36 Per Share (NYSE:FLR)

Posted by Defense World Staff on Apr 26th, 2023

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Fluor Co. (NYSE:FLR – Get Rating) – Analysts at KeyCorp issued their Q1 2023 earnings per share estimates for Fluor in a research report issued to clients and investors on Sunday, April 23rd. KeyCorp analyst S. Eastman expects that the construction company will post earnings per share of $0.36 for the quarter. The consensus estimate for Fluor’s current full-year earnings is $1.73 per share. KeyCorp also issued estimates for Fluor’s Q2 2023 earnings at $0.39 EPS.

Fluor (NYSE:FLR – Get Rating) last announced its earnings results on Tuesday, February 21st. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.11). Fluor had a return on equity of 8.49% and a net margin of 1.06%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the company posted $0.31 EPS. Fluor’s quarterly revenue was up 2.4% on a year-over-year basis.

Several other brokerages also recently weighed in on FLR. StockNews.com initiated coverage on shares of Fluor in a research note on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group increased their target price on shares of Fluor from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Finally, Robert W. Baird raised their price objective on shares of Fluor from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.29.

Fluor Price Performance

Shares of FLR opened at $28.85 on Tuesday. Fluor has a fifty-two week low of $21.67 and a fifty-two week high of $38.20. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 0.68 and a beta of 2.27. The firm has a 50-day simple moving average of $32.27 and a 200-day simple moving average of $33.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57.

Insider Activity

In other news, insider James R. Breuer sold 4,000 shares of Fluor stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $37.81, for a total transaction of $151,240.00. Following the completion of the sale, the insider now directly owns 41,742 shares in the company, valued at approximately $1,578,265.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLR. Ronald Blue Trust Inc. increased its stake in shares of Fluor by 1,186.6% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,055 shares of the construction company’s stock worth $26,000 after purchasing an additional 973 shares in the last quarter. Allworth Financial LP increased its stake in shares of Fluor by 70.9% during the 3rd quarter. Allworth Financial LP now owns 1,080 shares of the construction company’s stock worth $27,000 after purchasing an additional 448 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Fluor during the 1st quarter worth approximately $34,000. Hollencrest Capital Management purchased a new position in shares of Fluor during the 4th quarter worth approximately $35,000. Finally, Toronto Dominion Bank purchased a new stake in Fluor in the 4th quarter worth approximately $35,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Fluor Company Profile

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Fluor Corp. operates as a holding company. The firm engages in the provision of engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. It operates through the following segments: Energy & Chemicals, Mining & Industrial, Infrastructure & Power, Diversified Services and Government.