Fluor Corporation (FLR) Earns “Buy” Rating from Canaccord Genuity
Canaccord Genuity reaffirmed their buy rating on shares of Fluor Corporation (NYSE:FLR) in a research report released on Monday morning. They currently have a $54.00 target price on the construction company’s stock.
A number of other research firms have also recently commented on FLR. Seaport Global Securities reaffirmed a neutral rating and set a $44.00 price objective (down from $50.00) on shares of Fluor Corporation in a research report on Wednesday, October 11th. Deutsche Bank AG cut shares of Fluor Corporation from a buy rating to a hold rating and reduced their target price for the company from $55.00 to $40.00 in a research report on Friday, August 4th. Stephens reissued an overweight rating and issued a $50.00 target price (up previously from $44.00) on shares of Fluor Corporation in a research report on Saturday, October 14th. Credit Suisse Group reduced their target price on shares of Fluor Corporation from $43.00 to $41.00 and set a neutral rating for the company in a research report on Friday, November 3rd. Finally, BidaskClub cut shares of Fluor Corporation from a sell rating to a strong sell rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $47.45.
Fluor Corporation (FLR) traded down $0.45 during mid-day trading on Monday, reaching $47.18. 195,413 shares of the company’s stock were exchanged, compared to its average volume of 1,500,116. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.56. Fluor Corporation has a 1 year low of $37.04 and a 1 year high of $58.37. The company has a market capitalization of $6,725.20, a PE ratio of 17.30, a price-to-earnings-growth ratio of 3.35 and a beta of 1.42.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. Fluor Corporation had a net margin of 1.03% and a return on equity of 11.69%. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the previous year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts expect that Fluor Corporation will post 1.56 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Tuesday, December 5th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, December 4th. Fluor Corporation’s dividend payout ratio (DPR) is presently 58.74%.
A number of hedge funds have recently bought and sold shares of FLR. Wellington Management Group LLP acquired a new position in Fluor Corporation in the first quarter valued at about $1,648,000. Teachers Advisors LLC raised its stake in Fluor Corporation by 26.4% in the first quarter. Teachers Advisors LLC now owns 482,430 shares of the construction company’s stock valued at $25,385,000 after purchasing an additional 100,713 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Fluor Corporation by 6.7% in the first quarter. Thrivent Financial For Lutherans now owns 5,130 shares of the construction company’s stock valued at $270,000 after purchasing an additional 320 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Fluor Corporation in the first quarter valued at about $283,000. Finally, Highbridge Capital Management LLC acquired a new position in Fluor Corporation in the first quarter valued at about $268,000. 84.06% of the stock is owned by institutional investors and hedge funds.
Fluor Corporation Company Profile
Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.
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