Fluor (NYSE:FLR) Issues Earnings Results

Fluor (NYSE:FLRGet Rating) released its quarterly earnings data on Friday. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18), RTT News reports. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.49 billion. Fluor had a positive return on equity of 10.59% and a negative net margin of 0.63%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Fluor updated its FY22 guidance to $1.15-1.35 EPS and its FY 2022 guidance to $1.15-$1.35 EPS.

Fluor Stock Performance

NYSE:FLR traded down $2.32 during midday trading on Friday, reaching $23.08. The stock had a trading volume of 4,093,497 shares, compared to its average volume of 1,741,106. The firm has a fifty day simple moving average of $25.33 and a two-hundred day simple moving average of $25.43. Fluor has a 12-month low of $14.41 and a 12-month high of $31.32. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.28 billion, a P/E ratio of -29.21, a P/E/G ratio of 0.53 and a beta of 2.58.

Insider Activity at Fluor

In other news, Director Matthew K. Rose acquired 40,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $25.63 per share, for a total transaction of $1,025,200.00. Following the transaction, the director now directly owns 80,764 shares in the company, valued at approximately $2,069,981.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Matthew K. Rose bought 40,000 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were bought at an average cost of $25.63 per share, for a total transaction of $1,025,200.00. Following the transaction, the director now owns 80,764 shares of the company’s stock, valued at $2,069,981.32. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James T. Hackett bought 30,000 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $25.46 per share, for a total transaction of $763,800.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $254,600. The disclosure for this purchase can be found here. 1.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluor

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd boosted its position in shares of Fluor by 596.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 6,698 shares of the construction company’s stock worth $192,000 after purchasing an additional 5,736 shares in the last quarter. Laurel Wealth Advisors Inc. raised its stake in shares of Fluor by 5.1% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 9,347 shares of the construction company’s stock worth $268,000 after buying an additional 457 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Fluor by 4.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,343 shares of the construction company’s stock worth $268,000 after buying an additional 414 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Fluor during the 1st quarter worth $278,000. Finally, River & Mercantile Asset Management LLP acquired a new position in shares of Fluor during the 1st quarter worth $308,000. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLR. Credit Suisse Group set a $26.00 target price on shares of Fluor in a research report on Tuesday, July 19th. Citigroup lowered their target price on shares of Fluor from $31.00 to $27.00 in a research report on Friday, July 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.60.

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 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 for Fluor (NYSE:FLR)

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