Zacks: Brokerages Anticipate Fluor Co. (NYSE:FLR) Will Announce Quarterly Sales of $3.31 Billion

Wall Street analysts predict that Fluor Co. (NYSE:FLR) will announce sales of $3.31 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Fluor’s earnings. The lowest sales estimate is $3.24 billion and the highest is $3.38 billion. Fluor reported sales of $4.09 billion during the same quarter last year, which would suggest a negative year over year growth rate of 19.1%. The business is expected to announce its next earnings results before the market opens on Friday, August 6th.

On average, analysts expect that Fluor will report full-year sales of $13.28 billion for the current fiscal year, with estimates ranging from $12.97 billion to $13.59 billion. For the next fiscal year, analysts forecast that the company will post sales of $14.04 billion, with estimates ranging from $13.99 billion to $14.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Fluor.

Fluor (NYSE:FLR) last announced its earnings results on Thursday, May 6th. The construction company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Fluor had a negative net margin of 1.59% and a negative return on equity of 8.63%. The business’s revenue was down 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.22) EPS.

Several brokerages have recently issued reports on FLR. Citigroup decreased their target price on shares of Fluor from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays upped their price target on shares of Fluor from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, May 10th. Finally, Zacks Investment Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating and set a $24.00 price target on the stock in a report on Friday, April 30th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Fluor has an average rating of “Hold” and an average target price of $19.17.

A number of hedge funds have recently modified their holdings of the business. Prudential Financial Inc. grew its stake in Fluor by 2.0% in the 1st quarter. Prudential Financial Inc. now owns 24,416 shares of the construction company’s stock worth $564,000 after acquiring an additional 490 shares in the last quarter. The PNC Financial Services Group Inc. boosted its stake in shares of Fluor by 3.2% during the first quarter. The PNC Financial Services Group Inc. now owns 23,677 shares of the construction company’s stock valued at $547,000 after purchasing an additional 735 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Fluor by 1.8% during the first quarter. State of Michigan Retirement System now owns 46,385 shares of the construction company’s stock valued at $1,071,000 after purchasing an additional 800 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Fluor by 4.1% during the first quarter. HighTower Advisors LLC now owns 25,756 shares of the construction company’s stock valued at $596,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Fluor by 4.2% during the first quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the construction company’s stock valued at $753,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

Shares of NYSE FLR traded down $0.49 during mid-day trading on Friday, hitting $16.37. 1,651,632 shares of the company’s stock traded hands, compared to its average volume of 2,707,630. The business has a 50-day moving average of $18.03. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $2.31 billion, a P/E ratio of -10.05 and a beta of 2.92. Fluor has a 1 year low of $8.10 and a 1 year high of $25.08.

About Fluor

Fluor Corporation provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through six segments: Energy & Chemicals; Mining & Industrial; Infrastructure & Power; Government; Diversified Services; and Other.

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