Fluor (NYSE:FLR) Updates FY24 Earnings Guidance

Fluor (NYSE:FLR) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.55-2.75 for the period, compared to the consensus estimate of $2.88. Fluor also updated its FY 2024 guidance to 2.550-2.750 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FLR shares. Robert W. Baird raised their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. KeyCorp increased their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group raised their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Citigroup raised Fluor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Fluor has a consensus rating of “Moderate Buy” and an average price target of $59.29.

Fluor Trading Down 13.6 %

Shares of NYSE FLR traded down $8.00 during midday trading on Friday, reaching $50.93. 12,423,455 shares of the stock were exchanged, compared to its average volume of 2,091,830. The company has a 50 day simple moving average of $49.80 and a 200 day simple moving average of $46.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $8.72 billion, a P/E ratio of 21.76, a PEG ratio of 2.54 and a beta of 1.90. Fluor has a twelve month low of $34.17 and a twelve month high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.27). Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. Fluor’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that Fluor will post 2.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Joseph L. Brennan sold 11,619 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares in the company, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the sale, the chief financial officer now directly owns 41,908 shares in the company, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the transaction, the chief financial officer now owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,261 shares of company stock worth $2,156,604 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

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.