Fluor Co. (NEW) (NYSE:FLR) Price Target Cut to $36.00 by Analysts at Citigroup

Fluor Co. (NEW) (NYSE:FLR) had its price target lowered by stock analysts at Citigroup from $37.00 to $36.00 in a research note issued on Friday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup‘s price target points to a potential upside of 60.12% from the company’s previous close.

Several other research analysts also recently commented on the stock. Macquarie raised shares of Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity upped their target price on shares of Fluor Co. (NEW) from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. UBS Group lowered their target price on shares of 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. MKM Partners set a $39.00 target price on shares of Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Goldman Sachs Group cut shares of Fluor Co. (NEW) from a “buy” rating to a “neutral” rating and lowered their target price for the company from $44.00 to $28.00 in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Fluor Co. (NEW) presently has a consensus rating of “Hold” and an average target price of $44.64.

NYSE FLR traded down $8.43 during trading hours on Friday, reaching $22.48. 7,895,486 shares of the company were exchanged, compared to its average volume of 1,040,551. Fluor Co. has a 1 year low of $27.69 and a 1 year high of $60.60. The firm has a 50 day simple moving average of $32.05. 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 company has a market cap of $4.62 billion, a PE ratio of 10.46, a P/E/G ratio of 1.56 and a beta of 2.04.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). Fluor Co. (NEW) had a return on equity of 8.90% and a net margin of 0.99%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the business posted $0.81 EPS. The business’s quarterly revenue was down 16.2% on a year-over-year basis. As a group, equities analysts predict that Fluor Co. will post 1.63 EPS for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Oakbrook Investments LLC lifted its stake in Fluor Co. (NEW) by 9.1% during the 2nd quarter. Oakbrook Investments LLC now owns 15,500 shares of the construction company’s stock worth $522,000 after acquiring an additional 1,290 shares in the last quarter. Benin Management CORP acquired a new position in Fluor Co. (NEW) in the first quarter valued at $202,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Fluor Co. (NEW) in the first quarter valued at $423,000. World Asset Management Inc boosted its holdings in Fluor Co. (NEW) by 88.0% in the first quarter. World Asset Management Inc now owns 14,300 shares of the construction company’s stock valued at $526,000 after acquiring an additional 6,692 shares during the last quarter. Finally, Advisor Partners LLC acquired a new position in Fluor Co. (NEW) in the first quarter valued at $251,000. 89.41% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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