$4.61 Billion in Sales Expected for Fluor Co. (NEW) (FLR) This Quarter

Brokerages expect Fluor Co. (NEW) (NYSE:FLR) to announce $4.61 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Fluor Co. (NEW)’s earnings. The lowest sales estimate is $4.60 billion and the highest is $4.62 billion. Fluor Co. (NEW) reported sales of $4.94 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 6.7%. The business is expected to report its next earnings results after the market closes on Thursday, November 1st.

On average, analysts expect that Fluor Co. (NEW) will report full-year sales of $19.03 billion for the current financial year, with estimates ranging from $18.85 billion to $19.18 billion. For the next year, analysts forecast that the company will post sales of $20.18 billion, with estimates ranging from $19.01 billion to $21.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. Fluor Co. (NEW) had a net margin of 1.28% and a return on equity of 11.63%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.58 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis.

A number of research firms have weighed in on FLR. Goldman Sachs Group raised shares of Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Thursday, October 18th. Zacks Investment Research lowered shares of Fluor Co. (NEW) from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 12th. ValuEngine lowered shares of Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Citigroup set a $66.00 target price on shares of Fluor Co. (NEW) and gave the company a “buy” rating in a research report on Thursday, October 11th. Finally, Bank of America set a $67.00 target price on shares of Fluor Co. (NEW) and gave the company a “buy” rating in a research report on Thursday, October 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fluor Co. (NEW) presently has an average rating of “Hold” and a consensus price target of $59.00.

FLR traded up $0.88 on Wednesday, reaching $45.41. The stock had a trading volume of 48,527 shares, compared to its average volume of 2,118,439. Fluor Co. has a 12-month low of $42.22 and a 12-month high of $62.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.45. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 0.58 and a beta of 1.46.

Several hedge funds and other institutional investors have recently made changes to their positions in FLR. Ashler Capital LLC grew its position in shares of Fluor Co. (NEW) by 27.2% in the second quarter. Ashler Capital LLC now owns 5,099,250 shares of the construction company’s stock valued at $248,741,000 after purchasing an additional 1,091,110 shares during the period. Bank of America Corp DE grew its position in shares of Fluor Co. (NEW) by 62.3% in the second quarter. Bank of America Corp DE now owns 2,256,406 shares of the construction company’s stock valued at $110,066,000 after purchasing an additional 866,355 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Fluor Co. (NEW) in the second quarter valued at about $37,756,000. Carillon Tower Advisers Inc. acquired a new stake in shares of Fluor Co. (NEW) in the second quarter valued at about $26,239,000. Finally, Artisan Partners Limited Partnership boosted its position in Fluor Co. (NEW) by 10.1% during the second quarter. Artisan Partners Limited Partnership now owns 5,865,827 shares of the construction company’s stock worth $286,135,000 after acquiring an additional 535,887 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

Fluor Co. (NEW) Company Profile

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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