Fluor (NYSE:FLR) Trading Down 7.8% - What's Next?

Key Points

• Fluor shares fell 7.8% to approximately $52.58, with about 2.49 million shares traded. The decline brought the stock close to its 50-day moving average of $50.78.
• Analyst sentiment remains mixed: UBS and Truist maintained Buy ratings with targets of $66 and $71, while Zacks downgraded the stock to Strong Sell. Overall, Fluor has a consensus Hold rating and an average price target of $63.33.
• Fluor exceeded quarterly expectations, reporting $0.91 EPS versus $0.70 expected and revenue of $4.33 billion, up 8.8% year over year. Despite the earnings beat, the company posted a negative net margin of 12.85%.

Fluor Corporation (NYSE:FLR - Get Free Report) shares traded down 7.8% during trading on Monday . The stock traded as low as $52.88 and last traded at $52.5770. Approximately 2,485,846 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 2,713,595 shares. The stock had previously closed at $57.00.

Wall Street Analyst Weigh In

Several research analysts have commented on FLR shares. Zacks Research downgraded Fluor from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Fluor in a research report on Friday. UBS Group reaffirmed a "buy" rating and set a $66.00 target price on shares of Fluor in a research report on Monday. Truist Financial reiterated a "buy" rating and set a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday. Finally, Robert W. Baird increased their price target on shares of Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Fluor has an average rating of "Hold" and an average target price of $63.33.

Fluor Stock Performance

The firm has a fifty day simple moving average of $50.78 and a 200 day simple moving average of $48.53. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of -4.27, a PEG ratio of 1.81 and a beta of 1.25.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.Fluor's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. As a group, sell-side analysts expect that Fluor Corporation will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On Fluor

A number of hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in shares of Fluor during the 2nd quarter valued at about $25,000. Assetmark Inc. raised its position in Fluor by 249.0% in the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company's stock worth $27,000 after purchasing an additional 483 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Fluor during the fourth quarter worth about $27,000. Larson Financial Group LLC boosted its holdings in Fluor by 6,116.7% during the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock valued at $31,000 after purchasing an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Fluor in the 4th quarter valued at approximately $35,000. 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source