Fluor (NYSE:FLR) Issues Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Fluor (NYSE:FLR) released its earnings results on Friday. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25), Briefing.com reports. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Fluor updated its FY 2024 guidance to 2.550-2.750 EPS and its FY24 guidance to $2.55-2.75 EPS.

Fluor Trading Down 2.2 %

Shares of NYSE:FLR traded down $1.11 during mid-day trading on Monday, reaching $49.82. 3,946,894 shares of the company were exchanged, compared to its average volume of 1,662,490. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 2.21 and a beta of 1.90. The firm’s 50-day simple moving average is $49.80 and its 200 day simple moving average is $46.48. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLR. KeyCorp increased their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday. DA Davidson raised their price target on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Robert W. Baird lifted their price objective on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. UBS Group boosted their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.29.

Insider Buying and Selling

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fluor news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the transaction, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,261 shares of company stock valued at $2,156,604. Company insiders own 1.70% of the company’s stock.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.