Fluor Co. (NEW) (NYSE:FLR) Expected to Post Quarterly Sales of $4.60 Billion

Wall Street analysts expect that Fluor Co. (NEW) (NYSE:FLR) will report $4.60 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Fluor Co. (NEW)’s earnings, with estimates ranging from $4.53 billion to $4.71 billion. Fluor Co. (NEW) reported sales of $4.88 billion during the same quarter last year, which indicates a negative year over year growth rate of 5.7%. The company is scheduled to report its next earnings results after the market closes 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 financial year, analysts expect that the business will report sales of $20.17 billion, with estimates ranging from $19.26 billion to $20.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last announced its earnings results on Thursday, May 2nd. The construction company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.68). The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. Fluor Co. (NEW)’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share.

A number of equities research analysts have weighed in on FLR shares. UBS Group boosted their target price on shares of Zayo Group from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Citigroup set a $47.00 target price on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, May 3rd. Canaccord Genuity restated a “buy” rating and issued a GBX 620 ($8.10) price objective on shares of in a research note on Wednesday. MKM Partners set a $39.00 price objective on Fluor Co. (NEW) and gave the stock a “hold” rating in a research note on Friday, April 5th. Finally, Goldman Sachs Group set a €40.50 ($47.09) price objective on Koninklijke Philips and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.73.

In other Fluor Co. (NEW) news, insider Alan L. Boeckmann purchased 16,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $29.81 per share, for a total transaction of $476,960.00. Following the purchase, the insider now owns 17,250 shares of the company’s stock, valued at approximately $514,222.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carlos M. Hernandez purchased 17,001 shares of the business’s stock in a transaction on Monday, May 13th. The stock was acquired 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. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of FLR. Rehmann Capital Advisory Group increased its stake 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 buying an additional 417 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Fluor Co. (NEW) in the 4th quarter worth $33,000. First Manhattan Co. increased its stake in Fluor Co. (NEW) by 51.2% in the 1st quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock worth $33,000 after buying an additional 308 shares in the last quarter. Institutional & Family Asset Management LLC increased its stake in Fluor Co. (NEW) by 211.7% in the 1st quarter. Institutional & Family Asset Management LLC now owns 957 shares of the construction company’s stock worth $35,000 after buying an additional 650 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC increased its stake in Fluor Co. (NEW) by 50.8% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,292 shares of the construction company’s stock worth $48,000 after buying an additional 435 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company’s stock.

FLR traded up $0.96 during mid-day trading on Friday, reaching $32.88. 871,961 shares of the company traded hands, compared to its average volume of 1,555,819. The firm has a market cap of $4.60 billion, a PE ratio of 15.29, a P/E/G ratio of 1.40 and a beta of 2.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.04. The stock’s fifty day moving average is $30.63. Fluor Co. has a 52-week low of $27.69 and a 52-week high of $60.60.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Fluor Co. (NEW)’s dividend payout ratio (DPR) 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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