Fluor Co. Expected to Post Q3 2023 Earnings of $0.57 Per Share (NYSE:FLR)

Posted by on Aug 10th, 2023

Fluor Co. (NYSE:FLR – Free Report) – DA Davidson issued their Q3 2023 earnings per share (EPS) estimates for shares of Fluor in a research report issued on Monday, August 7th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings per share of $0.57 for the quarter. The consensus estimate for Fluor’s current full-year earnings is $2.15 per share. DA Davidson also issued estimates for Fluor’s FY2023 earnings at $2.15 EPS.

Fluor (NYSE:FLR – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The construction company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.33. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.68 billion. Fluor had a positive return on equity of 15.03% and a negative net margin of 0.10%. Fluor’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share.

A number of other research analysts have also weighed in on the company. StockNews.com assumed coverage on Fluor in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Robert W. Baird lifted their price target on Fluor from $40.00 to $43.00 in a report on Monday. Citigroup increased their price objective on shares of Fluor from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Credit Suisse Group boosted their target price on shares of Fluor from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.14.

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Fluor Stock Performance

Shares of NYSE FLR opened at $35.34 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market cap of $5.07 billion, a PE ratio of -88.35, a price-to-earnings-growth ratio of 0.32 and a beta of 2.28. The company has a 50-day simple moving average of $30.09 and a 200-day simple moving average of $31.16. Fluor has a 12 month low of $23.37 and a 12 month high of $38.20.

Institutional Trading of Fluor

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Fluor by 1,236.0% in the fourth quarter. Millennium Management LLC now owns 1,478,219 shares of the construction company’s stock valued at $51,235,000 after buying an additional 1,608,347 shares in the last quarter. Alliancebernstein L.P. grew its position in Fluor by 453.8% in the third quarter. Alliancebernstein L.P. now owns 1,833,384 shares of the construction company’s stock valued at $45,633,000 after acquiring an additional 1,502,349 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Fluor by 10.9% during the first quarter. Wellington Management Group LLP now owns 14,402,594 shares of the construction company’s stock worth $445,184,000 after purchasing an additional 1,415,178 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Fluor by 225.0% in the second quarter. Victory Capital Management Inc. now owns 1,754,362 shares of the construction company’s stock valued at $51,929,000 after purchasing an additional 1,214,586 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Fluor by 245.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,650,300 shares of the construction company’s stock worth $51,011,000 after buying an additional 1,173,000 shares during the period. 96.46% of the stock is currently owned by institutional investors and hedge funds.

About Fluor

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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 segment 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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Earnings History and Estimates for Fluor (NYSE:FLR)

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