Fluor (NYSE:FLR) Issues FY24 Earnings Guidance

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

Analyst Ratings Changes

Several brokerages have recently commented on FLR. DA Davidson raised their price objective on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays upped their price objective on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. UBS Group lifted their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, KeyCorp increased their price objective on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and an average price target of $59.29.

Fluor Trading Down 13.6 %

FLR stock opened at $50.93 on Friday. Fluor has a 12 month low of $34.17 and a 12 month high of $60.10. The firm’s 50-day moving average is $49.80 and its 200 day moving average is $46.44. The company has a market capitalization of $8.72 billion, a PE ratio of 21.76, a P/E/G ratio of 2.54 and a beta of 1.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.27). Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Fluor will post 2.88 EPS 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 sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company’s stock, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 over the last 90 days. Company insiders own 1.70% of the company’s stock.

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.