Fluor (NYSE:FLR) Shares Gap Down After Earnings Miss

Fluor Co. (NYSE:FLR) shares gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $41.24, but opened at $39.13. Fluor shares last traded at $39.13, with a volume of 1,255,173 shares trading hands.

The construction company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4 billion. Fluor had a net margin of 0.90% and a return on equity of 24.25%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS.

Analyst Ratings Changes

FLR has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. KeyCorp initiated coverage on Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Truist Financial reissued a “buy” rating and issued a $46.00 price objective on shares of Fluor in a research note on Monday, March 25th. Finally, TheStreet lowered Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.17.

Institutional Trading of Fluor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Fluor by 6.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,204 shares of the construction company’s stock worth $3,772,000 after buying an additional 5,760 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Fluor by 7.9% during the first quarter. BNP Paribas Financial Markets now owns 739,254 shares of the construction company’s stock worth $31,256,000 after buying an additional 54,228 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Fluor by 0.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock worth $2,739,000 after buying an additional 286 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Fluor by 0.3% during the first quarter. Retirement Systems of Alabama now owns 213,948 shares of the construction company’s stock worth $9,046,000 after buying an additional 562 shares during the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Fluor during the first quarter worth approximately $283,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $6.62 billion, a P/E ratio of 69.46, a P/E/G ratio of 3.27 and a beta of 2.11. The stock’s 50 day moving average is $39.73 and its two-hundred day moving average is $38.40.

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.