Citigroup Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Key Points

• Citigroup cut its price target on Fluor from $61 to $56, while keeping a buy rating. The new target still implies about 26.8% upside from the stock’s current price.
• Analyst sentiment on Fluor is mixed overall: recent firms have raised, lowered, or maintained ratings, and the consensus rating is Hold with an average target price of $53.67.
• Fluor’s latest earnings disappointed, with EPS of $0.14 versus estimates of $0.66 and revenue of $3.66 billion versus $3.89 billion expected. The stock rose 1.9% to $44.15 in Monday trading despite the weak report.

Fluor (NYSE:FLR - Get Free Report) had its target price cut by stock analysts at Citigroup from $61.00 to $56.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Citigroup's price objective would suggest a potential upside of 26.83% from the company's current price.

FLR has been the topic of a number of other reports. DA Davidson upped their price target on shares of Fluor from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Robert W. Baird upped their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday. Truist Financial upped their price target on shares of Fluor from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Wall Street Zen raised shares of Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Finally, Zacks Research downgraded shares of Fluor from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $53.67.

Fluor Stock Up 1.9%

NYSE:FLR traded up $0.84 during trading hours on Monday, hitting $44.15. 635,795 shares of the stock traded hands, compared to its average volume of 2,704,922. The firm has a 50 day moving average price of $48.04 and a 200 day moving average price of $45.96. The company has a current ratio of 1.78, a quick ratio of 1.91 and a debt-to-equity ratio of 0.36. Fluor has a fifty-two week low of $37.04 and a fifty-two week high of $57.50. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.08 and a beta of 1.33.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the firm earned $0.73 earnings per share. Fluor's revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Fluor will post 2.75 earnings per share for the current year.

Insider Activity at Fluor

In other Fluor news, insider Tracey H. Cook sold 2,589 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $53.22, for a total transaction of $137,786.58. Following the completion of the sale, the insider directly owned 10,731 shares in the company, valued at $571,103.82. This represents a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael E. Alexander sold 3,387 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.07, for a total transaction of $179,748.09. Following the completion of the sale, the insider owned 68,664 shares of the company's stock, valued at approximately $3,643,998.48. The trade was a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,110 shares of company stock valued at $1,168,920. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluor

Several hedge funds have recently made changes to their positions in the stock. Seelaus Asset Management LLC lifted its stake in shares of Fluor by 2.9% in the fourth quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company's stock valued at $348,000 after buying an additional 245 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock valued at $194,000 after buying an additional 248 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Fluor by 20.9% in the third quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company's stock valued at $67,000 after buying an additional 276 shares during the period. Truist Financial Corp lifted its stake in shares of Fluor by 5.7% in the third quarter. Truist Financial Corp now owns 5,361 shares of the construction company's stock valued at $226,000 after buying an additional 288 shares during the period. Finally, Clear Creek Financial Management LLC lifted its stake in shares of Fluor by 2.7% in the fourth quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company's stock valued at $466,000 after buying an additional 310 shares during the period. Institutional investors own 88.07% of the company's stock.

Fluor Company Profile

Fluor Corporation NYSE: FLR is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company's core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor's diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.