Fluor (NYSE:FLR) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Fluor from a “hold” to a “strong sell,” even as other analysts remain mixed on the stock.
• Despite the downgrade, Fluor’s overall analyst consensus is still “Hold”, with four Buy ratings, three Hold ratings, and one Sell rating and an average target price of $54.50.
• Fluor recently reported weaker-than-expected earnings, posting $0.14 EPS versus the $0.66 estimate and revenue of $3.66 billion versus $3.89 billion expected.

Fluor (NYSE:FLR - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on FLR. Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research note 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 research report on Thursday, July 2nd. Robert W. Baird raised their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Finally, Citigroup dropped their price target on shares of Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $54.50.

Fluor Price Performance

Shares of FLR stock opened at $49.56 on Tuesday. The firm has a fifty day simple moving average of $49.12 and a 200-day simple moving average of $47.25. The company has a market capitalization of $6.92 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. Fluor has a twelve month low of $37.62 and a twelve month high of $57.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Fluor during the fourth quarter worth $1,350,000. Goodman Financial Corp acquired a new position in shares of Fluor in the 4th quarter valued at about $7,610,000. Hudson Bay Capital Management LP grew its position in shares of Fluor by 310.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 98,107 shares of the construction company's stock valued at $4,127,000 after buying an additional 74,231 shares during the last quarter. Mutual Advisors LLC bought a new stake in shares of Fluor during the 4th quarter valued at about $863,000. Finally, Pacific Heights Asset Management LLC raised its stake in Fluor by 23.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company's stock worth $15,852,000 after acquiring an additional 75,000 shares during the period. Institutional investors and hedge funds 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.

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