Fluor Co. (NEW) (NYSE:FLR) Expected to Earn Q4 2019 Earnings of $0.59 Per Share

Fluor Co. (NEW) (NYSE:FLR) – KeyCorp reduced their Q4 2019 earnings per share (EPS) estimates for Fluor Co. (NEW) in a note issued to investors on Thursday, August 1st. KeyCorp analyst T. Afzal now expects that the construction company will post earnings of $0.59 per share for the quarter, down from their prior forecast of $0.70. KeyCorp has a “Hold” rating on the stock.

FLR has been the subject of several other research reports. Citigroup dropped their target price on shares of Fluor Co. (NEW) from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. ValuEngine raised shares of Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 13th. DA Davidson dropped their target price on shares of Fluor Co. (NEW) to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. UBS Group dropped their target price on shares of Fluor Co. (NEW) from $62.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Macquarie raised shares of Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.91.

FLR opened at $20.75 on Monday. The business has a 50-day moving average of $31.27. The company has a market cap of $3.17 billion, a P/E ratio of 9.65, a P/E/G ratio of 1.07 and a beta of 2.04. Fluor Co. has a 1-year low of $20.07 and a 1-year high of $60.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 0.97.

Fluor Co. (NEW) (NYSE:FLR) last released its earnings results on Thursday, August 1st. The construction company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.19). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.72 billion. Fluor Co. (NEW) had a positive return on equity of 7.09% and a negative net margin of 2.74%. Fluor Co. (NEW)’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Tuesday, September 3rd. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.

In other Fluor Co. (NEW) news, CEO Carlos M. Hernandez purchased 17,001 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $29.52 per share, with a total value of $501,869.52. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alan L. Boeckmann purchased 16,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $29.81 per share, with a total value of $476,960.00. Following the completion of the acquisition, 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. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC boosted its stake in Fluor Co. (NEW) by 23.0% during the 1st quarter. Clearbridge Investments LLC now owns 11,891,068 shares of the construction company’s stock valued at $437,591,000 after purchasing an additional 2,222,261 shares during the period. BlackRock Inc. boosted its stake in Fluor Co. (NEW) by 11.2% during the 1st quarter. BlackRock Inc. now owns 10,776,759 shares of the construction company’s stock valued at $396,583,000 after purchasing an additional 1,083,079 shares during the period. FMR LLC boosted its stake in Fluor Co. (NEW) by 0.9% during the 4th quarter. FMR LLC now owns 5,335,346 shares of the construction company’s stock valued at $171,799,000 after purchasing an additional 47,411 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Fluor Co. (NEW) by 4.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,209,453 shares of the construction company’s stock valued at $154,908,000 after purchasing an additional 185,100 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Fluor Co. (NEW) by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,101,840 shares of the construction company’s stock valued at $67,678,000 after purchasing an additional 9,322 shares during the period. 89.49% 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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Earnings History and Estimates for Fluor Co. (NEW) (NYSE:FLR)

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