Truist Financial Reaffirms "Buy" Rating for Fluor (NYSE:FLR)

Key Points

• Truist reiterated its Buy rating on Fluor but cut its price target from $71 to $62, implying 33.92% upside from the current share price.
• Analyst views are mixed: MarketBeat’s consensus rating is Hold, with an average price target of $60.33; four analysts rate the stock Buy, three Hold, and one Sell.
• Fluor reported quarterly EPS of $0.77, below the $0.80 consensus estimate, and revenue of $2 billion versus $4.16 billion expected. Revenue nevertheless rose 10.5% year over year.

Fluor (NYSE:FLR - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Truist Financial in a report issued on Monday, Benzinga reports. They currently have a $62.00 target price on the construction company's stock, down from their prior target price of $71.00. Truist Financial's price objective points to a potential upside of 33.92% from the stock's current price.

Several other research analysts also recently commented on FLR. UBS Group boosted their price objective on shares of Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Barclays raised their target price on Fluor from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Zacks Research raised Fluor from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Robert W. Baird dropped their price objective on Fluor from $64.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $60.33.

Fluor Trading Down 0.4%

FLR opened at $46.30 on Monday. Fluor has a twelve month low of $39.33 and a twelve month high of $58.35. The company has a 50-day simple moving average of $50.43 and a 200 day simple moving average of $49.34. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -6.79, a P/E/G ratio of 0.96 and a beta of 1.22.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings data on Friday, November 6th. The construction company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.03). Fluor had a positive return on equity of 10.52% and a negative net margin of 7.19%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. Analysts predict that Fluor will post 2.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its position in Fluor by 209.9% during the 3rd quarter. Fisher Asset Management LLC now owns 1,728,795 shares of the construction company's stock valued at $82,775,000 after purchasing an additional 1,170,945 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Fluor in the 1st quarter worth approximately $66,036,000. Russell Investments Group Ltd. lifted its position in shares of Fluor by 59.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 751,259 shares of the construction company's stock worth $35,978,000 after purchasing an additional 281,049 shares during the period. Moore Capital Management LP lifted its position in shares of Fluor by 220.0% in the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company's stock worth $27,243,000 after purchasing an additional 357,521 shares during the period. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Fluor in the 1st quarter valued at $18,660,000. Institutional investors own 88.07% of the company's stock.

Fluor Company Profile

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.

Founded in 1912, Fluor is headquartered in Irving, Texas, and undertakes projects in the United States and internationally.

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