Fluor (NYSE:FLR) Releases Earnings Results, Misses Estimates By $0.07 EPS

Fluor (NYSE:FLR) issued its quarterly earnings results on Friday. The construction company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07), Briefing.com reports. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. During the same period last year, the company earned $0.28 earnings per share. Fluor’s revenue for the quarter was down .5% on a year-over-year basis. Fluor updated its FY24 guidance to $2.50-3.00 EPS and its FY 2024 guidance to 2.500-3.000 EPS.

Fluor Stock Down 5.7 %

NYSE FLR opened at $38.90 on Monday. The stock’s 50 day simple moving average is $39.73 and its 200 day simple moving average is $38.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.60. Fluor has a one year low of $25.69 and a one year high of $43.24. The firm has a market cap of $6.62 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 3.08 and a beta of 2.11.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. KeyCorp initiated coverage on Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Citigroup increased their price target on shares of Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. TheStreet downgraded Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. Finally, Truist Financial reissued a “buy” rating and issued a $46.00 target price on shares of Fluor in a report on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fluor currently has a consensus rating of “Hold” and an average target price of $43.17.

About Fluor

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.