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Fluor Co. (NYSE:FLR) Expected to Announce Quarterly Sales of $3.15 Billion

Last updated on Friday, April 30, 2021 | 2021 MarketBeat

Brokerages expect that Fluor Co. (NYSE:FLR) will post $3.15 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Fluor's earnings, with estimates ranging from $3.01 billion to $3.29 billion. Fluor posted sales of $4.12 billion in the same quarter last year, which suggests a negative year over year growth rate of 23.5%. The company is expected to issue its next earnings report before the market opens on Friday, May 7th.

According to Zacks, analysts expect that Fluor will report full-year sales of $13.28 billion for the current financial year, with estimates ranging from $12.97 billion to $13.59 billion. For the next financial year, analysts expect that the company will post sales of $14.04 billion, with estimates ranging from $13.99 billion to $14.10 billion. Zacks' sales averages are an average based on a survey of analysts that that provide coverage for Fluor.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Thursday, February 25th. The construction company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.93). Fluor had a negative net margin of 3.63% and a positive return on equity of 10.56%. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the business earned ($0.21) EPS. The firm's quarterly revenue was down 23.9% compared to the same quarter last year.

Several brokerages recently issued reports on FLR. Credit Suisse Group lowered their target price on Fluor from $19.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 8th. Zacks Investment Research upgraded Fluor from a "strong sell" rating to a "hold" rating and set a $20.00 price objective for the company in a research report on Wednesday, February 10th. Citigroup upped their target price on Fluor from $18.00 to $23.00 in a report on Wednesday, April 21st. Finally, Vertical Research upgraded shares of Fluor from a "hold" rating to a "buy" rating in a report on Thursday, January 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of "Hold" and an average price target of $17.40.

A number of hedge funds have recently modified their holdings of the business. First Trust Advisors LP increased its stake in shares of Fluor by 579.5% in the 1st quarter. First Trust Advisors LP now owns 141,476 shares of the construction company's stock valued at $5,206,000 after acquiring an additional 120,656 shares in the last quarter. Morgan Stanley increased its stake in Fluor by 30.3% in the third quarter. Morgan Stanley now owns 636,499 shares of the construction company's stock valued at $5,607,000 after purchasing an additional 147,954 shares in the last quarter. Eudaimonia Partners LLC acquired a new position in shares of Fluor during the third quarter valued at about $53,000. Sei Investments Co. boosted its position in shares of Fluor by 16.3% during the 3rd quarter. Sei Investments Co. now owns 45,600 shares of the construction company's stock worth $402,000 after purchasing an additional 6,384 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Fluor in the 4th quarter valued at about $337,000. Institutional investors and hedge funds own 64.57% of the company's stock.

Shares of NYSE:FLR opened at $23.12 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.41 and a current ratio of 1.41. Fluor has a 52 week low of $7.43 and a 52 week high of $24.79. The firm has a market cap of $3.26 billion, a PE ratio of -5.71 and a beta of 2.85. The firm's fifty day moving average is $22.22 and its 200-day moving average is $17.84.

About Fluor

Fluor Corporation provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through six segments: Energy & Chemicals; Mining & Industrial; Infrastructure & Power; Government; Diversified Services; and Other.

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