Fluor (NYSE:FLR) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Fluor shares moved above their 200-day moving average, trading as high as $50.59 and last changing hands near $49.45. The breakout came after the stock had a 200-day average of $47.65.
• Analyst sentiment is mixed but leans cautious, with a consensus rating of “Hold” and an average price target of $57.20. Recent moves included Citigroup cutting its target to $56, Truist raising its target to $64, and Zacks downgrading the stock to “strong sell.”
• Fluor’s latest quarterly results missed expectations, posting EPS of $0.14 versus the $0.66 estimate and revenue of $3.66 billion versus $3.89 billion expected. Revenue also fell 8% year over year, though analysts still forecast $2.63 EPS for the current year.

Shares of Fluor Corporation (NYSE:FLR - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $47.65 and traded as high as $50.59. Fluor shares last traded at $49.4530, with a volume of 1,274,431 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on FLR. Citigroup cut their price target on Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a report on Monday, May 11th. Truist Financial upped their target price on Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Zacks Research downgraded Fluor from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Robert W. Baird boosted their price target on shares of Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $57.20.

Fluor Trading Down 2.6%

The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 1.61 and a beta of 1.23. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The business's 50-day simple moving average is $48.88 and its two-hundred day simple moving average is $47.65.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm's revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts forecast that Fluor Corporation will post 2.63 earnings per share for the current year.

Institutional Trading of Fluor

Hedge funds have recently modified their holdings of the stock. Starboard Value LP acquired a new position in Fluor during the 4th quarter worth $205,732,000. AQR Capital Management LLC raised its position in Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock valued at $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Fluor by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company's stock valued at $178,962,000 after buying an additional 377,985 shares during the period. Rubric Capital Management LP boosted its stake in shares of Fluor by 12.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company's stock valued at $189,315,000 after buying an additional 500,000 shares during the period. Finally, Morgan Stanley grew its position in shares of Fluor by 0.6% during the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company's stock worth $134,969,000 after buying an additional 20,210 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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