Fluor (NYSE:FLR) Stock Price Down 3.5% After Earnings Miss

Key Points

• Fluor's stock fell 3.5% following an earnings report that showed a missed EPS of $0.43 compared to the consensus estimate of $0.59.
• The company reported revenue of $3.98 billion for the quarter, significantly below the expected $4.55 billion, marking a 5.9% decline year-over-year.
• Analysts' ratings have shifted, with Truist Financial raising its price target to $59.00, while Wall Street Zen downgraded the stock from "buy" to "hold."

Fluor Corporation (NYSE:FLR - Get Free Report)'s share price traded down 3.5% on Monday following a dissappointing earnings announcement. The company traded as low as $39.94 and last traded at $39.97. 3,147,018 shares were traded during mid-day trading, a decline of 10% from the average session volume of 3,484,999 shares. The stock had previously closed at $41.42.

The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.16). The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%. The firm's revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share.

Analysts Set New Price Targets

FLR has been the topic of several recent analyst reports. Wall Street Zen cut shares of Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Truist Financial upped their price objective on shares of Fluor from $47.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. UBS Group reissued a "buy" rating and set a $60.00 price target (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Citigroup restated a "buy" rating and set a $71.00 price objective (up from $47.00) on shares of Fluor in a research note on Monday, July 28th. Finally, Robert W. Baird dropped their price target on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $53.14.

Insider Buying and Selling at Fluor

In related news, Chairman David E. Constable sold 38,600 shares of Fluor stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total value of $2,011,446.00. Following the transaction, the chairman directly owned 792,027 shares in the company, valued at $41,272,526.97. The trade was a 4.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider owned 64,383 shares in the company, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,320 shares of company stock worth $4,870,182 in the last ninety days. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp lifted its position in shares of Fluor by 11.2% in the second quarter. Fifth Third Bancorp now owns 2,062 shares of the construction company's stock worth $106,000 after buying an additional 208 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Fluor by 8.8% in the second quarter. Farther Finance Advisors LLC now owns 3,368 shares of the construction company's stock worth $173,000 after buying an additional 271 shares during the last quarter. Xponance Inc. lifted its position in shares of Fluor by 1.5% in the first quarter. Xponance Inc. now owns 24,597 shares of the construction company's stock worth $881,000 after buying an additional 357 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Fluor by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company's stock worth $400,000 after buying an additional 359 shares during the last quarter. Finally, Callan Family Office LLC lifted its position in shares of Fluor by 4.4% in the first quarter. Callan Family Office LLC now owns 9,185 shares of the construction company's stock worth $329,000 after buying an additional 389 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Down 3.3%

The business has a 50-day simple moving average of $49.91 and a two-hundred day simple moving average of $42.87. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 1.65, a PEG ratio of 2.43 and a beta of 1.43. The company has a quick ratio of 1.74, a current ratio of 1.62 and a debt-to-equity ratio of 0.18.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.

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