Fluor Co. (NEW) (NYSE:FLR) Expected to Post Quarterly Sales of $4.19 Billion

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Equities analysts expect Fluor Co. (NEW) (NYSE:FLR) to report sales of $4.19 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Fluor Co. (NEW)’s earnings, with the highest sales estimate coming in at $4.22 billion and the lowest estimate coming in at $4.15 billion. Fluor Co. (NEW) reported sales of $4.80 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.7%. The company is scheduled to announce its next earnings results on Thursday, February 20th.

On average, analysts expect that Fluor Co. (NEW) will report full-year sales of $16.42 billion for the current financial year, with estimates ranging from $16.38 billion to $16.45 billion. For the next year, analysts expect that the company will report sales of $17.06 billion, with estimates ranging from $16.41 billion to $17.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fluor Co. (NEW).

Fluor Co. (NEW) (NYSE:FLR) last announced its earnings results on Thursday, October 31st. The construction company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.33. Fluor Co. (NEW) had a positive return on equity of 8.94% and a negative net margin of 7.66%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.69 billion.

Several brokerages recently weighed in on FLR. Barclays restated a “hold” rating and set a $28.00 target price on shares of Fluor Co. (NEW) in a research note on Sunday, August 4th. Canaccord Genuity upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Thursday, August 22nd. TheStreet downgraded Fluor Co. (NEW) from a “c” rating to a “d+” rating in a research report on Friday, August 2nd. Credit Suisse Group reduced their price objective on Fluor Co. (NEW) from $31.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Finally, Citigroup reduced their price objective on Fluor Co. (NEW) from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Fluor Co. (NEW) presently has a consensus rating of “Hold” and a consensus target price of $26.20.

Several institutional investors and hedge funds have recently modified their holdings of FLR. First Trust Advisors LP raised its holdings in shares of Fluor Co. (NEW) by 579.5% in the 1st quarter. First Trust Advisors LP now owns 141,476 shares of the construction company’s stock worth $5,206,000 after buying an additional 120,656 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its holdings in Fluor Co. (NEW) by 4.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 41,141 shares of the construction company’s stock valued at $1,380,000 after purchasing an additional 1,700 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Fluor Co. (NEW) by 74.8% during the 2nd quarter. Retirement Systems of Alabama now owns 378,315 shares of the construction company’s stock valued at $12,745,000 after purchasing an additional 161,827 shares in the last quarter. Exane Derivatives increased its holdings in Fluor Co. (NEW) by 6.6% during the 2nd quarter. Exane Derivatives now owns 11,671 shares of the construction company’s stock valued at $393,000 after purchasing an additional 723 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Fluor Co. (NEW) by 383.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 35,800 shares of the construction company’s stock valued at $1,177,000 after purchasing an additional 28,400 shares in the last quarter. 81.25% of the stock is owned by institutional investors and hedge funds.

NYSE:FLR traded up $0.07 during mid-day trading on Wednesday, hitting $17.72. 2,081,218 shares of the company’s stock traded hands, compared to its average volume of 2,404,189. The firm has a 50 day moving average of $18.64 and a two-hundred day moving average of $23.98. Fluor Co. has a 12 month low of $16.00 and a 12 month high of $42.18. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 8.24 and a beta of 2.17. The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.97.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 4th will be given a $0.10 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. Fluor Co. (NEW)’s dividend payout ratio is currently 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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