Fluor (NYSE:FLR) Issues Quarterly Earnings Results, Misses Expectations By $0.52 EPS

by · The Cerbat Gem

Fluor (NYSE:FLR – Get Free Report) issued its earnings results on Thursday. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52), Zacks reports. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share.

Fluor Stock Down 15.3%

NYSE:FLR traded down $7.80 during trading hours on Friday, hitting $43.28. 11,032,315 shares of the stock traded hands, compared to its average volume of 2,729,509. The firm has a 50 day moving average price of $48.04 and a 200 day moving average price of $45.96. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -55.49, a PEG ratio of 1.35 and a beta of 1.33. Fluor has a fifty-two week low of $35.14 and a fifty-two week high of $57.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33.

Insider Buying and Selling at Fluor

In other Fluor news, insider Michael E. Alexander sold 3,387 shares of Fluor stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.07, for a total transaction of $179,748.09. Following the completion of the sale, the insider owned 68,664 shares of the company’s stock, valued at $3,643,998.48. This trade represents a 4.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the transaction, the insider directly owned 194,514 shares in the company, valued at $10,184,753.04. This trade represents a 2.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,110 shares of company stock valued at $1,168,920 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Fluor in the 2nd quarter valued at approximately $202,000. Northwestern Mutual Wealth Management Co. lifted its stake in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after acquiring an additional 248 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Fluor in the fourth quarter worth approximately $173,000. Public Employees Retirement System of Ohio grew its position in Fluor by 43.3% in the third quarter. Public Employees Retirement System of Ohio now owns 3,810 shares of the construction company’s stock worth $160,000 after acquiring an additional 1,151 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Fluor by 201.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,817 shares of the construction company’s stock worth $151,000 after purchasing an additional 2,550 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FLR. Citigroup increased their price objective on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. Truist Financial upped their target price on Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Robert W. Baird increased their price target on Fluor from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.33.

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Fluor Company Profile

(Get Free Report)

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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