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

Fluor (NYSE:FLR) posted its earnings results on Friday. The construction company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.07), Briefing.com reports. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4 billion. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. 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 %

Shares of FLR stock traded down $2.34 during trading hours on Friday, hitting $38.90. 4,832,080 shares of the company were exchanged, compared to its average volume of 1,139,215. The business has a 50 day moving average of $39.73 and a two-hundred day moving average of $38.40. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56. Fluor has a 52 week low of $25.69 and a 52 week high of $43.24. The company has a market capitalization of $6.62 billion, a PE ratio of 69.46, a PEG ratio of 3.27 and a beta of 2.11.

Analyst Ratings Changes

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