$4.60 Billion in Sales Expected for Fluor Co. (NEW) (FLR) This Quarter

Wall Street analysts predict that Fluor Co. (NEW) (NYSE:FLR) will announce sales of $4.60 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Fluor Co. (NEW)’s earnings. The lowest sales estimate is $4.53 billion and the highest is $4.71 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 issue its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Fluor Co. (NEW) will report full year sales of $18.90 billion for the current financial year, with estimates ranging from $18.62 billion to $19.17 billion. For the next fiscal year, analysts expect that the firm will report 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 sell-side analysts that cover Fluor Co. (NEW).

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

Several equities analysts have weighed in on FLR shares. Goldman Sachs Group cut 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. Macquarie raised Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating in a research note on Friday, May 3rd. MKM Partners set a $39.00 target price on Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research raised Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research note on Monday, March 11th. Finally, DA Davidson lowered their target price on Fluor Co. (NEW) to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.45.

In other news, insider Alan L. Boeckmann purchased 16,000 shares of Fluor Co. (NEW) stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $29.81 per share, for a total transaction of $476,960.00. Following the acquisition, the insider now directly owns 17,250 shares in the company, valued at $514,222.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos M. Hernandez purchased 17,001 shares of Fluor Co. (NEW) stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $29.52 per share, with a total value of $501,869.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 13,570 shares of company stock valued at $506,670. 1.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC lifted its holdings in Fluor Co. (NEW) by 23.0% in the 1st quarter. Clearbridge Investments LLC now owns 11,891,068 shares of the construction company’s stock worth $437,591,000 after purchasing an additional 2,222,261 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Fluor Co. (NEW) by 133.2% in 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 last quarter. Cerebellum GP LLC lifted its holdings in Fluor Co. (NEW) by 10.8% in the 1st quarter. Cerebellum GP LLC now owns 8,779 shares of the construction company’s stock worth $323,000 after purchasing an additional 853 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Fluor Co. (NEW) by 362.9% in the 1st quarter. Advisory Services Network LLC now owns 14,073 shares of the construction company’s stock worth $518,000 after purchasing an additional 11,033 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in Fluor Co. (NEW) by 63.6% in the 1st quarter. Horizon Investments LLC now owns 11,561 shares of the construction company’s stock worth $425,000 after purchasing an additional 4,496 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.

NYSE:FLR traded up $0.19 on Tuesday, hitting $29.04. 1,843,869 shares of the company’s stock traded hands, compared to its average volume of 3,236,086. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.04. Fluor Co. has a 1 year low of $28.00 and a 1 year high of $60.60. The stock has a market cap of $4.06 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.40 and a beta of 1.77.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. Fluor Co. (NEW)’s dividend payout ratio is 39.07%.

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.

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

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