Fluor Co. (NEW) (FLR) Updates FY18 Earnings Guidance

Fluor Co. (NEW) (NYSE:FLR) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.80-1.90 for the period, compared to the Thomson Reuters consensus estimate of $2.05. Fluor Co. (NEW) also updated its FY 2018 guidance to $1.80-1.90 EPS.

Several equities research analysts have issued reports on the company. MKM Partners reaffirmed a hold rating and set a $56.00 price target on shares of Fluor Co. (NEW) in a research note on Thursday, October 11th. UBS Group raised Fluor Co. (NEW) from a neutral rating to a buy rating and boosted their target price for the company from $48.00 to $69.00 in a research note on Monday, August 13th. ValuEngine lowered Fluor Co. (NEW) from a buy rating to a hold rating in a research note on Friday, October 12th. Zacks Investment Research lowered Fluor Co. (NEW) from a strong-buy rating to a hold rating in a research note on Friday, October 12th. Finally, Canaccord Genuity raised Fluor Co. (NEW) from a hold rating to a buy rating in a research note on Friday, August 17th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $59.08.

Shares of NYSE FLR traded down $1.63 during midday trading on Friday, reaching $46.60. The company had a trading volume of 2,062,538 shares, compared to its average volume of 2,444,467. Fluor Co. has a one year low of $42.22 and a one year high of $62.09. The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $6.92 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 0.70 and a beta of 1.67.

Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.66 billion. Fluor Co. (NEW) had a net margin of 1.21% and a return on equity of 11.31%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. As a group, equities research analysts forecast that Fluor Co. will post 2.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Monday, December 3rd. Fluor Co. (NEW)’s payout ratio is 51.53%.

In other Fluor Co. (NEW) news, Chairman David Thomas Seaton purchased 5,158 shares of the stock in a transaction on Tuesday, November 6th. The stock was acquired at an average price of $48.52 per share, with a total value of $250,266.16. Following the transaction, the chairman now directly owns 301,400 shares of the company’s stock, valued at approximately $14,623,928. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

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About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

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Earnings History and Estimates for Fluor Co. (NEW) (NYSE:FLR)

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