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

Fluor (NYSE:FLR) released its quarterly earnings data 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 net margin of 0.90% and a return on equity of 24.25%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the business posted $0.28 EPS. 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 Performance

Fluor stock traded down $2.34 on Friday, reaching $38.90. 4,832,080 shares of the stock were exchanged, compared to its average volume of 1,139,215. The stock has a market cap of $6.62 billion, a PE ratio of 69.46, a PEG ratio of 3.27 and a beta of 2.11. The firm has a fifty day moving average price of $39.73 and a two-hundred day moving average price of $38.40. Fluor has a twelve month low of $25.69 and a twelve month high of $43.24. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56.

Analysts Set New Price Targets

Several brokerages recently commented on FLR. TheStreet cut Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Truist Financial restated a “buy” rating and set a $46.00 price target on shares of Fluor in a research note on Monday, March 25th. KeyCorp assumed coverage on shares of Fluor in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Citigroup increased their target price 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.17.

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.