Fluor Co. (NEW) (NYSE:FLR) Plans $0.21 Quarterly Dividend

Fluor Co. (NEW) (NYSE:FLR) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 0.21 per share by the construction company on Tuesday, July 2nd. This represents a $0.84 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, May 31st.

Fluor Co. (NEW) has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fluor Co. (NEW) to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 32.4%.

FLR opened at $29.61 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.04 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.16 billion, a P/E ratio of 13.77, a PEG ratio of 1.38 and a beta of 1.77. Fluor Co. has a 12-month low of $28.00 and a 12-month high of $60.60.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.68). Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business earned $0.56 EPS. Fluor Co. (NEW)’s revenue for the quarter was down 13.1% on a year-over-year basis. Equities analysts forecast that Fluor Co. will post 1.66 earnings per share for the current year.

In other Fluor Co. (NEW) news, insider Ray F. Barnard sold 3,318 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $37.04, for a total transaction of $122,898.72. Following the completion of the sale, the insider now owns 75,739 shares of the company’s stock, valued at $2,805,372.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carlos M. Hernandez bought 17,001 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $29.52 per share, with a total value of $501,869.52. The disclosure for this purchase can be found here. In the last three months, insiders have sold 13,570 shares of company stock valued at $506,670. 1.40% of the stock is owned by company insiders.

FLR has been the topic of several research analyst reports. UBS Group cut their target price on Fluor Co. (NEW) from $62.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Citigroup dropped their price target on Fluor Co. (NEW) from $56.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Credit Suisse Group restated a “buy” rating and set a $56.00 price target on shares of Fluor Co. (NEW) in a research note on Monday, February 11th. MKM Partners set a $39.00 target price on Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Zacks Investment Research upgraded Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research note on Monday, March 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Fluor Co. (NEW) has an average rating of “Hold” and an average target price of $46.45.

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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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Dividend History for Fluor Co. (NEW) (NYSE:FLR)

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