Fluor Corporation (NYSE:FLR) Stock Has Consensus Target Price of $63.33 According to Brokerages

Key Points

• Analyst consensus: Fluor has an average “Hold” rating from eight brokerages, with four buys, three holds, and one sell. The average 12-month price target is $63.33.
• Strong quarterly results: Fluor reported quarterly EPS of $0.91, exceeding the $0.70 consensus estimate, while revenue of $4.33 billion rose 8.8% year over year and surpassed forecasts.
• Stock and ownership: FLR opened at $46.86, below its analyst target and recent 52-week high of $58.35. Institutional investors own approximately 88.07% of the company, while an insider recently sold 5,000 shares under a pre-arranged trading plan.

Shares of Fluor Corporation (NYSE:FLR - Get Free Report) have received an average rating of "Hold" from the eight brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $63.33.

Several equities analysts have issued reports on FLR shares. Wall Street Zen upgraded Fluor from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Zacks Research raised shares of Fluor from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. UBS Group raised their price target on shares of Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a report on Monday, August 10th. Citigroup restated a "buy" rating on shares of Fluor in a report on Friday, October 23rd. Finally, Barclays lifted their price objective on shares of Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th.

Fluor Price Performance

Shares of FLR opened at $46.86 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The company has a 50 day moving average price of $50.98 and a 200-day moving average price of $49.26. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $58.35. The stock has a market capitalization of $6.27 billion, a PE ratio of -3.82, a PEG ratio of 0.96 and a beta of 1.28.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.43 earnings per share. Fluor's revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Fluor will post 2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of Fluor stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the transaction, the insider directly owned 36,064 shares of the company's stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Fluor

Several hedge funds and other institutional investors have recently made changes to their positions in FLR. Empowered Funds LLC increased its position in shares of Fluor by 45.2% during the first quarter. Empowered Funds LLC now owns 138,342 shares of the construction company's stock worth $6,454,000 after purchasing an additional 43,078 shares in the last quarter. State of Wyoming purchased a new position in Fluor in the 2nd quarter valued at $1,358,000. Energy Income Partners LLC purchased a new position in Fluor in the 2nd quarter valued at $5,826,000. Old West Investment Management LLC acquired a new stake in Fluor during the 2nd quarter worth $13,348,000. Finally, First National Bank of Omaha acquired a new stake in Fluor during the 2nd quarter worth $8,804,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

About Fluor

Fluor Corporation is a global engineering, procurement, construction and project-management company serving government and commercial clients. The company provides design and construction services, project development, procurement, maintenance, operations support and consulting for complex infrastructure and industrial projects.

Fluor's activities span energy, chemicals and advanced technologies, infrastructure, mining and metals, life sciences, and government and national-security programs.

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