Fluor (NYSE:FLR) Issues FY 2024 Earnings Guidance

Fluor (NYSE:FLR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.550-2.750 for the period, compared to the consensus earnings per share estimate of 2.890. The company issued revenue guidance of -. Fluor also updated its FY24 guidance to $2.55-2.75 EPS.

Analysts Set New Price Targets

FLR has been the topic of several research reports. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Barclays raised their price target on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Robert W. Baird upped their price objective on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. UBS Group raised 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. Finally, KeyCorp upped their price target on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.29.

Fluor Price Performance

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

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.27). Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts expect that Fluor will post 2.88 EPS for the current year.

Insider Activity

In other news, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares in the company, valued at $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares in the company, valued at $2,703,669.15. The trade was 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 link. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at $2,676,885.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is owned by company insiders.

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.