Fluor (NYSE:FLR) Stock Gets Price Target Reduction from Citigroup

Fluor (NYSE:FLR) had its price target decreased by Citigroup from $68.00 to $66.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Several other analysts have also recently commented on the company. Truist Financial restated a “buy” rating and set a $62.00 target price (down from $71.00) on shares of Fluor in a report on Monday. Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wall Street Zen cut shares of Fluor from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Barclays raised their price objective on Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.00.

Fluor Price Performance

NYSE:FLR opened at $50.68 on Monday. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -7.43, a PEG ratio of 1.02 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.80 and a current ratio of 1.83. Fluor has a 52 week low of $39.33 and a 52 week high of $58.35. The company has a 50-day moving average of $50.17 and a 200-day moving average of $49.41.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, November 6th. The construction company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.03). Fluor had a negative net margin of 7.19% and a positive return on equity of 10.52%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Fluor will post 2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluor

Several hedge funds have recently added to or reduced their stakes in FLR. Advisors Asset Management Inc. acquired a new stake in Fluor during the third quarter worth approximately $7,291,000. Private Advisor Group LLC grew its holdings in shares of Fluor by 23.8% during the 3rd quarter. Private Advisor Group LLC now owns 6,235 shares of the construction company’s stock worth $299,000 after purchasing an additional 1,198 shares in the last quarter. Boston Partners increased its holdings in Fluor by 28.9% in the 3rd quarter. Boston Partners now owns 59,268 shares of the construction company’s stock valued at $2,838,000 after buying an additional 13,302 shares during the period. Voya Investment Management LLC raised its position in Fluor by 2.5% during the third quarter. Voya Investment Management LLC now owns 131,729 shares of the construction company’s stock valued at $6,307,000 after purchasing an additional 3,274 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Fluor by 56.2% during the 3rd quarter. Global Retirement Partners LLC now owns 739 shares of the construction company’s stock worth $35,000 after buying an additional 266 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Fluor

Fluor Corporation is a global engineering and construction company that provides engineering, procurement, construction, maintenance and project-management services. It works with clients to plan and deliver complex projects, and also provides services for facility operations, upgrades and decommissioning. The company serves customers in sectors including energy, chemicals, mining and metals, infrastructure, advanced technologies and life sciences. Through its government-focused work, Fluor also supports federal agencies and government programs, including projects involving environmental remediation and national security.