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

Fluor (NYSE:FLR) announced its quarterly earnings results on Friday. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07), Briefing.com reports. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s quarterly revenue 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 Trading Down 5.7 %

Shares of FLR traded down $2.34 during midday trading on Friday, hitting $38.90. 4,832,080 shares of the stock were exchanged, compared to its average volume of 1,139,215. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap 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. Fluor has a 52-week low of $25.69 and a 52-week high of $43.24. The stock has a fifty day simple moving average of $39.73 and a 200 day simple moving average of $38.40.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FLR. TheStreet cut Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. Citigroup upped their price objective on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. KeyCorp started coverage on Fluor in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Truist Financial reissued a “buy” rating and set a $46.00 price target on shares of Fluor in a research report on Monday, March 25th. Five equities research 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 an average 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.