Fluor Co. (NEW) (FLR) Expected to Announce Quarterly Sales of $4.75 Billion

Equities analysts forecast that Fluor Co. (NEW) (NYSE:FLR) will post sales of $4.75 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Fluor Co. (NEW)’s earnings. The highest sales estimate is $5.05 billion and the lowest is $4.61 billion. Fluor Co. (NEW) reported sales of $4.82 billion during the same quarter last year, which indicates a negative year over year growth rate of 1.5%. The firm is expected to issue its next earnings report after the market closes on Thursday, May 2nd.

On average, analysts expect that Fluor Co. (NEW) will report full year sales of $20.63 billion for the current year, with estimates ranging from $19.27 billion to $21.55 billion. For the next financial year, analysts expect that the firm will report sales of $22.73 billion, with estimates ranging from $20.94 billion to $24.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last released its earnings results on Thursday, February 21st. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.16. Fluor Co. (NEW) had a net margin of 1.17% and a return on equity of 11.98%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year.

A number of research firms have recently commented on FLR. Zacks Investment Research upgraded Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. ValuEngine upgraded Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. MKM Partners set a $39.00 price target on Fluor Co. (NEW) and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Credit Suisse Group restated a “buy” rating and issued a $56.00 price target on shares of Fluor Co. (NEW) in a research report on Monday, February 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $54.69.

FLR stock traded up $0.22 during midday trading on Friday, hitting $41.09. The company’s stock had a trading volume of 51,875 shares, compared to its average volume of 1,247,498. Fluor Co. has a 12 month low of $29.78 and a 12 month high of $62.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.10. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 0.85 and a beta of 1.76.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.

In related news, insider Ray F. Barnard sold 7,515 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $37.57, for a total value of $282,338.55. Following the completion of the sale, the insider now directly owns 86,572 shares of the company’s stock, valued at approximately $3,252,510.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ray F. Barnard sold 3,318 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $37.04, for a total value of $122,898.72. Following the sale, the insider now directly owns 75,739 shares of the company’s stock, valued at $2,805,372.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,570 shares of company stock valued at $506,670. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. MML Investors Services LLC boosted its stake in Fluor Co. (NEW) by 19.6% in the third quarter. MML Investors Services LLC now owns 7,569 shares of the construction company’s stock valued at $440,000 after acquiring an additional 1,243 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Fluor Co. (NEW) by 23.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 51,845 shares of the construction company’s stock worth $3,011,000 after acquiring an additional 9,946 shares in the last quarter. BlackRock Inc. increased its holdings in Fluor Co. (NEW) by 0.5% in the 3rd quarter. BlackRock Inc. now owns 9,689,092 shares of the construction company’s stock worth $562,935,000 after acquiring an additional 43,989 shares in the last quarter. American International Group Inc. increased its holdings in Fluor Co. (NEW) by 6.8% in the 3rd quarter. American International Group Inc. now owns 50,914 shares of the construction company’s stock worth $2,958,000 after acquiring an additional 3,257 shares in the last quarter. Finally, Korea Investment CORP purchased a new stake in Fluor Co. (NEW) in the 3rd quarter worth approximately $447,000. 88.13% of the stock is owned by institutional investors.

About Fluor Co. (NEW)

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

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

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