Analysts Expect Fluor Co. (NEW) (NYSE:FLR) Will Post Quarterly Sales of $4.60 Billion

Wall Street brokerages forecast that Fluor Co. (NEW) (NYSE:FLR) will announce $4.60 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Fluor Co. (NEW)’s earnings, with the highest sales estimate coming in at $4.71 billion and the lowest estimate coming in at $4.53 billion. Fluor Co. (NEW) reported sales of $4.88 billion during the same quarter last year, which would suggest a negative year over year growth rate of 5.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Fluor Co. (NEW) will report full year sales of $18.90 billion for the current year, with estimates ranging from $18.62 billion to $19.17 billion. For the next year, analysts expect that the firm will post sales of $20.17 billion, with estimates ranging from $19.26 billion to $20.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.68). Fluor Co. (NEW) had a return on equity of 8.90% and a net margin of 0.99%. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue was down 13.1% compared to the same quarter last year.

Several analysts have issued reports on the company. UBS Group cut their price objective on Fluor Co. (NEW) from $62.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. ValuEngine upgraded Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Zacks Investment Research cut Fluor Co. (NEW) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 23rd. Citigroup cut their price objective on Fluor Co. (NEW) from $56.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, DA Davidson cut their price objective on Fluor Co. (NEW) to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.45.

NYSE FLR traded down $1.09 on Thursday, hitting $29.31. 2,516,678 shares of the stock traded hands, compared to its average volume of 3,881,692. Fluor Co. has a twelve month low of $27.69 and a twelve month high of $60.60. The stock has a market capitalization of $4.10 billion, a P/E ratio of 13.63, a PEG ratio of 1.36 and a beta of 1.95. The company has a quick ratio of 1.04, a current ratio of 1.49 and a debt-to-equity ratio of 0.53.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, May 31st. Fluor Co. (NEW)’s payout ratio is 39.07%.

In related news, CEO Carlos M. Hernandez purchased 17,001 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $29.52 per share, for a total transaction of $501,869.52. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alan L. Boeckmann purchased 16,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were bought at an average price of $29.81 per share, for a total transaction of $476,960.00. Following the completion of the transaction, the insider now directly owns 17,250 shares in the company, valued at approximately $514,222.50. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FLR. Rehmann Capital Advisory Group raised its position in shares of Fluor Co. (NEW) by 133.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 730 shares of the construction company’s stock worth $27,000 after purchasing an additional 417 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in shares of Fluor Co. (NEW) during the 4th quarter worth approximately $33,000. First Manhattan Co. raised its position in shares of Fluor Co. (NEW) by 51.2% during the 1st quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock worth $33,000 after purchasing an additional 308 shares during the period. Institutional & Family Asset Management LLC raised its position in shares of Fluor Co. (NEW) by 211.7% during the 1st quarter. Institutional & Family Asset Management LLC now owns 957 shares of the construction company’s stock worth $35,000 after purchasing an additional 650 shares during the period. Finally, Synovus Financial Corp raised its position in shares of Fluor Co. (NEW) by 542.5% during the 4th quarter. Synovus Financial Corp now owns 1,150 shares of the construction company’s stock worth $37,000 after purchasing an additional 971 shares during the period. Institutional investors and hedge funds own 91.39% of the company’s stock.

Fluor Co. (NEW) Company Profile

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.

Featured Story: Analyst Ratings Trading

Get a free copy of the Zacks research report on Fluor Co. (NEW) (FLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Fluor Co. (NEW) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluor Co. (NEW) and related companies with MarketBeat.com's FREE daily email newsletter.