Brokers Set Expectations for Fluor Co.'s Q2 2024 Earnings (NYSE:FLR)

Fluor Co. (NYSE:FLR - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Fluor in a research note issued to investors on Tuesday, May 7th. DA Davidson analyst B. Thielman forecasts that the construction company will post earnings of $0.67 per share for the quarter. The consensus estimate for Fluor's current full-year earnings is $2.84 per share. DA Davidson also issued estimates for Fluor's FY2024 earnings at $2.75 EPS.

A number of other analysts have also commented on the company. Truist Financial reaffirmed a "buy" rating and set a $47.00 price objective (up previously from $46.00) on shares of Fluor in a research note on Monday. Robert W. Baird boosted their price objective on shares of Fluor from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday. KeyCorp assumed coverage on shares of Fluor in a research report on Wednesday, January 10th. They set a "sector weight" rating on the stock. Citigroup boosted their price target on Fluor from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Monday, April 22nd. Finally, TheStreet cut Fluor from a "b-" rating to a "c" rating in a report on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Fluor has an average rating of "Hold" and a consensus target price of $44.00.

Fluor Price Performance

NYSE:FLR traded down $0.16 during trading hours on Wednesday, reaching $38.35. 996,824 shares of the company traded hands, compared to its average volume of 1,571,799. Fluor has a 1-year low of $25.69 and a 1-year high of $43.24. The stock has a market cap of $6.53 billion, a P/E ratio of 22.39, a P/E/G ratio of 3.08 and a beta of 2.11. The firm's 50-day moving average is $39.85 and its 200-day moving average is $38.47. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.60.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.07). Fluor had a net margin of 1.97% and a return on equity of 24.98%. The business had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $4 billion. During the same period last year, the company earned $0.28 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis.

Institutional Trading of Fluor

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Fluor by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company's stock worth $668,278,000 after buying an additional 2,670,473 shares during the period. Hennessy Advisors Inc. purchased a new position in Fluor in the fourth quarter valued at about $26,918,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Fluor by 3,488.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 609,400 shares of the construction company's stock worth $22,365,000 after purchasing an additional 592,418 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Fluor in the third quarter worth about $12,724,000. Finally, King Luther Capital Management Corp raised its holdings in shares of Fluor by 84.2% during the 4th quarter. King Luther Capital Management Corp now owns 637,150 shares of the construction company's stock valued at $24,957,000 after buying an additional 291,210 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

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.