Fluor (NYSE:FLR) Announces Earnings Results, Misses Expectations By $0.27 EPS

by · The Cerbat Gem

Fluor (NYSE:FLR – Get Free Report) posted its quarterly earnings results on Friday. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.27), Briefing.com reports. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Fluor updated its FY 2024 guidance to 2.550-2.750 EPS and its FY24 guidance to $2.55-2.75 EPS.

Fluor Stock Performance

Shares of FLR opened at $50.93 on Friday. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.54 and a beta of 1.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $49.80 and its two-hundred day moving average is $46.44. Fluor has a 52-week low of $34.17 and a 52-week high of $60.10.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLR. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson boosted their price objective on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays raised their target price on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. UBS Group upped their price target on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, KeyCorp lifted their price objective on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.29.

View Our Latest Research Report on Fluor

Insider Transactions at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the sale, the chief accounting officer now directly owns 55,965 shares in the company, valued at approximately $2,703,669.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is currently owned by corporate insiders.

About Fluor

(Get Free Report)

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. 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.

Read More